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Garuda Indonesia reveals details of its debt crisis
June 10th 2021
Garuda Indonesia said in a regulatory filing to Indonesia’s stock exchange today it is operating about 53 aircraft out of a fleet of 142 airplanes in response to market conditions. Read More » For those grounded aircraft, of which 39 were in “maintenance”, the airline is negotiating with lessors about retaining them in the fleet or terminating the leases early and returning the aircraft. The regulatory filing was prompted by questions from the Indonesian bourse. The SkyTeam alliance member is conducting a comprehensive study that includes operational aspects, strategy, business transformation and finance to restructure the business.
