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Garuda Indonesia to receive US$520 million in capital funding from Indonesian government
June 8th 2022
Indonesia's Minister of state-owned enterprises, Kartika Wirjoatmodjo, said at a parliamentary hearing in Jakarta that Garuda Indonesia is in line to receive a 7.5 trillion rupiah (US$520 million) capital injection from the government once the airline group reaches agreement with creditors on a debt reduction scheme. Read More » Garuda's creditors, owed US$9.8 billion, will vote on the airline’s restructuring plan on June 20. The deadline to finalise a deal and present it to the Central Jakarta District Court has been extended three times, most recently in May. The restructuring will include a radically reduced fleet and network.
