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Garuda Indonesia to terminate leases for 12 Bombardier CRJ-1000 regional jets
February 11th 2021
Garuda Indonesia will return 12 Bombardier CRJ-1000 regional jets to its lessor before the expiry of the leases in 2027, the country's state-owned enterprise minister, Erick Thohir, told reporters in Jakarta yesterday. Read More » The minister said changed market conditions from COVID-19 and an investigation by the UK’s Serious Fraud Office (SFO) into the 2011 procurement of the aircraft were the reasons for the decision. Nordic Aviation Capital (NAC), which leased the 12 CRJ-1000s to Garuda, said overnight it had not received a termination notice from the Indonesian flag carrier. "The lease agreements thus remain in full force and effect and NAC expects Garuda to continue to honour its contractual commitments," NAC said. "While NAC is sympathetic to the commercial difficulties of Garuda, it is confident of its position and absolutely determined to protect its commercial interest." NAC noted there had been no allegation of any wrongdoing on its part in relation to the placement of the aircraft.
