News
Garuda Indonesia CEO flags a 50% reduction in carrier’s fleet
May 24th 2021
Garuda Airlines CEO, Irfan Setiaputra, has told staff the Indonesian flag carrier may have to cut its fleet by half, to about 70 aircraft, to survive COVID-19, Bloomberg news agency has reported, citing a recording of his comments on May 19. Read More » Setiaputra, who has been Garuda Indonesia CEO since January 2020, said in a staff address the company would have to undergo a comprehensive restructuring program. The airline had about 70 trillion rupiah (US$4.9 billion) of debt and it was increasing by one trillion rupiah every month, he said. The Bloomberg report added the airline was offering staff early retirement to cut costs.
