REPUBLIKA.CO.ID, JAKARTA - National flag carrier PT Garuda Indonesia bought two aircrafts Boeing 777-300ER using sharia financing scheme, called Ijarah concept, through Alafco Aviation Lease and Finance, a Kuwait company. Each aircraft costs 315 million USD.

President Director of Garuda Indonesia, Emirsyah Satar said it was the first financing that Garuda using sharia scheme. The signing ceremony held at Soekarno-Hatta International Airport in Jakarta on Monday. The purchasing marks good business development as Garuda passengers grew 20 percent in 2012 compared to 2011.

"Sharia financing is a breakthrough as many funding scheme come from Middle East which mostly channeled through Islamic financing methods," Satar said. 

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