Garuda signs MoU with Rolls Royce

The state-controlled airlines PT Garuda Indonesia Tbk (GIAA) is in frenzy shopping. The airlines, which the shares price now still below the IPO level, announced a memorandum of understanding with Rolls Royce Plc on February 10.

The MoU is related with a purchase of engines for flight with A330 series and maintenance support for Trent 700 engine series.
In parallel with the MoU, Garuda Indonesia has entered purchase agreement with Bombardier of CRJ1000 NextGen of 6 fleets with option to add 18 fleets. 

Disclosure: No position at the stock mentioned above.

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