Indonesian Government Investigating Garuda Indonesia For Alleged Corruption Involving Some Aircraft Lease And Financing Deals
A senior Indonesian government official, responsible for investigating corruption and other crimes, has confirmed that the authorities are now investigating allegations of corruption at Garuda Indonesia involving some aircraft financing and lease deals. Indonesia’s deputy attorney general for special crimes,…
Indonesian Govt Announces Plan To Save Garuda Indonesia Through Down-Sizing And Creditors Taking Haircut
Indonesia’s government is trying to save Garuda Indonesia by asking creditors – including aircraft lessors – to extinguish some debt or accept swapping debt for equity. Indonesia’s deputy minister for state-owned enterprises, Kartika Wirkoatmodjo, has unveiled the government’s plan which…
Indonesia’s Citilink To Serve Newly Upgraded Ngloram Airport
Garuda Indonesia’s budget carrier Citilink is set to fly to Ngloram Airport at November-end, marking the start of the airport’s commercial operations. Budi Karya Sumadi, the minister of transport, says the inaugural flight operated by Citilink will fly to Ngloram…
ANALYSIS: Garuda Indonesia’s Fall From Grace
There is usually no single cause for an air crash, but rather it is a combination of different contributing factors, built up over time, that leads to disaster. Garuda Indonesia today is a corporate disaster but – like in the…
Garuda Indonesia Responds To Queries On Why It Pays Higher Aircraft Lease Rates
Indonesia’s flag carrier Garuda Indonesia has issued a statement to the Indonesia Stock Exchange (ISE), in response to queries on why it pays higher aircraft lease rates, citing market conditions among other reasons. The airline says in a statement that…
Another Creditor Sues Garuda Indonesia
Information technology (IT) company Mitra Buana Koorporindo (MBK) has filed a lawsuit against Indonesia’s debt-ridden flag carrier Garuda Indonesia, one day after the latter’s case with My Indo Airlines was dismissed in court. CNN Jakarta reports that MBK filed the case…
