JAKARTA – PT Garuda Indonesia (Persero) Tbk (GIAA) targets the debt restructuring process involving the planes’ creditor and lessor to be completed by this year. Prasetio, the Financial Director of PT Garuda Indonesia (Persero) Tbk (GIAA) in the information disclosure, quoted Monday (28/6).
“The management is developing a constructive communication with the banks, other creditors, and the lessors to achieve the best decision,” Prasetio claims.
However, the detail of the debt restructuring negotiation agreement between GIAA and banks, creditors, and lessors is yet to be disclosed. Meanwhile, Several options are being considered by the company, the supporting consultants, and other stakeholders, including PT Mandiri Sekuritas, Cleary Gottlieb Steen & Hamilton LLP, and Assegaf Hamzah & Partners.
According to Prasetio, the company is notifying The Hongkong and Shanghai Banking Corporation Limited (HSBC) regarding the payment postponement of Sukuk Global of USD 500 million during and after the grace period.
GIAA is currently negotiating the order cancellation of 49 units of B737 Max aircraft from Boeing in the USA. They currently operate 53 units out of 142 units of existing aircraft, storing the remaining 39 units in the maintenance process. (LK/ZH)