JAKARTA. PT Garuda Indonesia (Persero) Tbk (GIAA) plans to restructure its US$ 500 million short-term debt.
Irfan Setiaputra, President Director of GIAA, said the debt was due in the first half of this year. He claimed that his party had a pretty good track record in the eyes of creditors, so that the short-term debt can be paid off soon.
"Regarding this debt, we are restructuring it, we are discussing refinancing. Besides, of course we will arrange the cost structure, "said Sebuahutra as reported by Kontan on Monday (2/3) yesterday.
Meanwhile Yenny Wahid, Independent Commissioner of GIAA, said the company will not get new debt to repay maturing debt. "There should be no issuance of new debt, because the relation is with the covenant, but restructuring, refinancing, that can be done," Wahid explained. (KR/AR)