Garuda flies to the ‘Asean Open Skies’
Nov 3, 2015
Q&A: How BNP Paribas flew wingman for Garuda’s SBLCs
When it comes to running an airline, having money on hand is the alpha and omega of every national carrier. Garuda explains how it worked with BNP Paribas to keep its fleet at its peak.
The standby letter of credit (SBLC) is an irrevocable documentary commitment, issued by a bank to a third-party beneficiary and promising to pay on behalf of the originator.
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