JAKARTA. PT Garuda Indonesia Tbk (Persero) (GIAA) is exploring the possibility to restructure its US$ 500 million-debt that will mature in June 2020.
"We have a little problem, maybe the public also knows that we have a US$ 500 million that will mature soon, so we need financial assistance from banks," he said.
Irfan claimed the coronavirus pandemic had hit the company's cash flow quite hard due to the cancellation of flights to China and Saudi Arabia. In fact, the company must fly an empty plane to Saudi Arabia to pick up pilgrims.
He predicted that the reduction in passengers would be more drastic after the Ministry of Transportation issued Permenhub No. 25/2020 on Transportation Control during the Eid 1441 H in the context of Preventing the Distribution of Covid-19. "We continue to see this decline until May, and it will be even more drastic before Eid," he said. (AM/AR)