Life Line for Garuda
Monday, 7 June 2021
The government is making plans to bring out flag carrier Garuda Indonesia from a critical situation, threading a steep path between mountains of debts to many creditors.
THE meeting between the Board of Commissioners of Garuda Indonesia (IDX: GIAA) and Deputy State Owned Enterprises (SOEs) Minister Kartika Wirjoatmodjo was held at the end of May. Several weeks prior, the supervisors of Garuda’s management requested a meeting to discuss the financial condition of the state airline, which is in terrible shape. During the meeting, Kartika presented four schemes to resolve Garuda’s problems, along with th...
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