Debt Clipped, Garuda Flies Again
Monday, 11 July 2022
Garuda Indonesia is waiting for state capital injection and new investors after escaping a bankruptcy lawsuit. They convert debts to stocks, removing inefficient flight routes, and reducing fleets.
STATE-OWNED Enterprises (SOEs) Minister Erick Thohir’s post on Instagram on Friday, July 1, revealed the government’s latest effort to save Garuda Indonesia. Erick uploaded a photo of his meeting with Mohammed Ali Al Shorafa, Chairman of United Arab Emirates’ airline, Etihad. “No goodwill ends in vain. Our efforts to restructure Garuda Indonesia have received tremendous appreciation from several parties, including Etihad,&...
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