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Indonesia’s biggest IPO this year

JAKARTA: PT Garuda Maintenance Facility AeroAsia, a unit of national carrier PT Garuda Indonesia, plans to raise as much as US$300mil in an initial share sale to fund setting up of a new unit in an island near Singapore and expand overseas.


Thai junta chief vows air safety overhaul after US downgrade

BANGKOK: Thailand’s junta chief said problems with the kingdom’s airline industry must be solved after the United States downgraded the country’s air safety rating in an embarrassing blow to the tourist-reliant nation.