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…
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…
Indonesian Court Gives Garuda Indonesia Some Financial Respite
An Indonesian court today dismissed a case against Garuda Indonesia brought by creditor My Indo Airlines, providing some respite for the financially-troubled national carrier. The Central Jakarta Commercial Court today…
Govt Says Garuda Indonesia Being Liquidated Is A Possibility
Debt-ridden flag carrier Garuda Indonesia could go bankrupt if restructuring agreements with creditors fail, leaving another state-owned carrier Pelita Air Service to fill the void. Deputy minister of state-owned enterprises,…
ANALYSIS: Garuda Indonesia’s Year Of Living Dangerously
A move by Pelita Air Service – which is owned by Indonesia’s state-owned oil and gas company Pertamina – into scheduled passenger operations, could lead to a significant shake-up of…
Nordic Aviation Capital Posts US$2.36 Billion Loss, Asks Creditors To Turn Debt Into Equity
Nordic Aviation Capital (NAC), the world’s largest lessor of regional aircraft, has reported a US$2.36 billion loss, due largely to a write down in the value of its aircraft assets,…