Garuda Indonesia's Creditors To Lose Billions Following …
WEBJun 28, 2022 · An Indonesian judge has approved Garuda Indonesia's restructuring plan, giving the beleaguered airline the green light to rid itself of billions of dollars worth of debt and reorganize its fleet and operations. In a filing lodged with the Indonesian Stock Exchange on Monday, Garuda Indonesia confirmed that …
Garuda Indonesia wins creditors' approval for $9 billion …
WEBJun 16, 2022 · Garuda Indonesia's proposal for restructuring its more than $9 billion debt won the approval on Friday from the vast majority of the airline's creditors, court officials said, staving off the...
Garuda Indonesia halves debt with restructuring, on track for …
WEBJun 28, 2022 · Garuda Indonesia has halved its debt and achieved comparable cuts to aircraft leasing costs in negotiations that have set the airline up for profitability, the Indonesian government said on...
Garuda Indonesia files for Chapter 15 U.S. bankruptcy procedure
WEBSep 26, 2022 · Flag carrier Garuda Indonesia has requested that a court in New York recognise the airline's recent debt restructuring deal in a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code, its...
What's The Latest In The Garuda Indonesia Saga? - Simple Flying
WEBJan 12, 2022 · One influential Indonesian has stepped up to support beleaguered Garuda Indonesia while another alleges corruption, in the same week creditors lodged claims worth US$13.8 billion against the airline. The events add another chapter in the long-running and colorful Garuda Indonesia saga.
Garuda Ruling to Decide Fate of $9.8 Billion Debt Recast
WEBDec 9, 2021 · Garuda amassed $9.8 billion in debt and judges in the Central Jakarta Commercial Court accepted a petition to suspend debt payments to its creditors.
Garuda Indonesia Strikes Debt Restructuring Deal - The Diplomat
WEBJun 28, 2022 · In mid-June Indonesia’s national airline, Garuda Indonesia, won the approval of 95 percent of its creditors to restructure over $9 billion in liabilities. As reported by Reuters, the deal...
Garuda Indonesia’s Creditors Submit Claims of $13.8 Billion
WEBJan 10, 2022 · Creditors of struggling airline PT Garuda Indonesia have submitted about 198 trillion rupiah ($13.8 billion) in claims as part of a debt restructuring, according to court-appointed administrators.
Garuda eyes ‘promising’ year-end as airline swings to profitability
WEBOct 9, 2022 · Garuda Indonesia expects strong passenger travel demand through the year-end, as it works through restructuring and fleet rationalisation.
What Will Garuda Indonesia Look Like After Its Restructuring?
WEBJun 9, 2022 · Garuda's restructuring plan is finally moving forward. In court on Thursday, Garuda's administrators will explain how they plan to restructure the airline and reduce its crippling debt. They need the court's approval to take their plan forward to a creditors' meeting later this month.