REPUBLIKA.CO.ID, JAKARTA -- PT Garuda Indonesia expects to save up to 17 percent through hedging in cooperation with several banks including Bank Internasional Indonesia Maybank, Bank Mega, ANZ Indonesia, Standard Chartered Bank Indonesia, and BNI.

"It expects to save 15 to 17 percent to anticipate currency uncertainty," President Director Arif Wibowo stated while inking the hedging agreement here on Tuesday.

He noted that the cooperation would be carried out through cross currency swap worth Rp1 trillion comprising Rp300 billion with Bank Mega, Rp400 billion with BII, Rp150 billion with ANZ, and Rp150 billion with Standard Chartered.

"This is the second phase of recovery of Garuda's position in 2015 due to challenges not only related to the currency exchange rate but also economic growth," he pointed out.