JAKARTA – PT Garuda Indonesia (Persero) Tbk (GIAA) lays out a debt restructuring scheme following the decision of the London Court of International Arbitration (LCIA). The ruling obliged Garuda Indonesia to pay aircraft leases to its lessors, Helice and Atterisage (Goshawk).
Quoting the official announcement on Friday (10/9), Irfan Setiaputra, President Director of Garuda Indonesia, reveals that the restructuring scheme is coming to a conclusion to cover the company’s obligation. “Currently, we are establishing an intensive communication with Goshawk to explore other possible agreements besides the ongoing legal processes,” he says.
According to Setiaputra, the discussion with Goshawk over the settlement of GIAA’s obligations would generate the best solution while preserving the company’s sustainability amidst the current condition. “We respect the ruling of LCIA as the international arbitral institution settling disputes,” he adds.
As previously mentioned, LCIA demanded GIAA to pay for its aircraft leases to Goshawk earlier this week (6/9). Unfortunately, the obligation came to Garuda Indonesia in the middle of declining performance in the airline industry during the COVID-19 pandemic since last year. (LK/ZH)