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Garuda Indonesia signs agreement with AerCap to end legal action
August 2nd 2021
Indonesian flag carrier, Garuda Indonesia, said lessor AerCap has agreed to end legal proceedings after the two parties signed a global side letter agreement on July 28. Read More » In a regulatory filing to Indonesia's stock exchange, the airline said it would fly nine 737s leased from AerCap to an undisclosed location. In June, AerCap took legal action in the Supreme Court of New South Wales, Australia after Garuda was in arrears to the lessor. Garuda said its flight operations would continue as normal post the agreement. In recent briefings to employees, Garuda Indonesia CEO, Irfan Setiaputra, has said the carrier's fleet must be reduced by 50% if it was to survive.
