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Garuda Indonesia

Take-Off Not Guaranteed

Tuesday, January 24, 2006

Garuda Indonesia Airways is on the threshold of ruin. Forging an alliance is not the only way out.

. tempo : 178038613280.

EVERY time it goes to the government, Garuda Indonesia Airways management always brings bad news. Last December, for example, they approached the government with a maturing debt of US$56 million and working capital needs of US$50 million. They asked the government to assist them to reschedule the maturing debt.

Its total debts amount to US$800 millionor around Rp8 trillion. Garuda owes US$500 million to European Credit Agencies in London and appro

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