Last Year’s Pandemic Impact was Insane
Monday, June 7, 2021
Hit by a storm of crisis, flag carrier Garuda Indonesia’s revenue has fallen drastically during the pandemic, with mounting debts to aircraft lessors and banks. To Tempo, Garuda Indonesia CEO Irfan Setiaputra reveals the roots of the airline’s problems, and what the management is planning for debt restructuring.
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THE burden on Irfan Setiaputra’s shoulders is heavy. State airline Garuda Indonesia, which he has been helming since January 2020, is hit by a severe crisis. Since the Covid-19 pandemic began, revenues have fallen, debts to aircraft lessors have piled up, while bailout funds from the government—one that had only been disbursed once—might not continue. “We need to do more efficiency,” Irfan told Tempo’s Retno Su
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