Indonesia to merge Garuda and tourism companies

Under new plans from the Indonesian government, Garuda Indonesia, Citilink and other state-owned tourism companies will be combined under one holding company in a bid to better direct public funds to the state-owned companies. President Joko Widodo has added his support to the deal. Having all travel companies under one umbrella, it is hoped will enable cheaper packages for travellers, while also eliminating inefficiencies and providing the company with sufficient size to attract better bank funding. Reuters reports that the real reason behind the move is to ease the financial restructuring of Garuda, which has posted a half year loss