Beleaguered Garuda’s debt hits Rp142T

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garuda indonesia
PT Garuda Indonesia (Persero) airline. (Source: @garuda.indonesia/@kord.planespotter)

Jakarta, IO – PT Garuda Indonesia (Persero) is working to resolve its mounting. Soon it will face the vote on its Suspension of Debt Payment Obligations (PKPU) today.

Garuda Indonesia president director Irfan Setiaputra said the vote on the debt settlement proposal has been submitted to creditors since the end of December 2021. After the vote is carried out, the court will give its judgement June 20, according to report by Kompas, Friday (17/6).

Irfan explained that in the voting process, Garuda is targeting to get 50 plus 1 percent of votes from the creditors. In addition, it is necessary to pursue the 67 percent of claims from non-preferential creditors with voting rights.

According to him, the vote will determine the homologation between Garuda and its creditors. Therefore, the company will take advantage of the remaining time before the voting process to have more discussions with creditors in order to reach a settlement.