Garuda Turns to Share Sale as Fuel Eats Into $1.4 Billion Rescue

Garuda Indonesia's finances worsened months after a $1.4 billion rescue by sovereign wealth fund Danantara, as surging fuel costs wiped out remaining equity. The flag carrier now faces urgency to launch another share sale to shore up its finances, according to a report. The airline's deteriorating position underscores the impact of fuel price spikes on its recovery.