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Garuda Indonesia shares plunge on bourse debut

Shares in the Indonesian airline Garuda have made a less then impressive debut on the stock market in Jakarta.

The carrier's shares lost more than 21% on their first day on Friday, despite an upbeat management which claimed to have turned the airline around.

Analysts said the disappointing first-day performance was also down to rising inflation and, in the long run at least, the shares should fare better.

Jennifer Pak reports from Jakarta.

  • 11 Feb 2011