Garuda pushes back its payment of Sukuk of USD 500 million
JAKARTA – PT Garuda Indonesia (Persero) Tbk (GIAA) postpones its gradual payment for Sukuk of USD 500 million due December 2021. Financial and Risk Management Director of Garuda Indonesia, Prasetio, announced the decision in the information disclosure quoted Monday (6/12).
It was mentioned that the reason behind the deferred payment of Sukuk (the Trust Certificate Garuda Indonesia Global Sukuk Limited) is related to the business continuity of the company amidst the pandemic and the vulnerability the pandemic has brought to the aviation industry. “The delayed payment of Sukuk is the best step that the company could take to ensure its future business continuity,” Prasetio admitted.
Additionally, the delayed payment also links back to the commitment of Garuda Indonesia to settle the restructuring process well. GIAA would continue having intensive discussions with its stakeholders to achieve the best agreement for its obligation fulfilment. (LK/ZH)