Jakarta, CNN Indonesia —
PT . Employee Union Garuda Indonesia (Persero) Tbk sent a proposal to save Garuda Indonesia to President Joko Widodo (Jokowi) and the Minister of SOEs Erick Thohir for fear of the National Airlines going bankrupt.
Daily Chairman of the Garuda Indonesia Employee Union Tomy Tampatty said the rescue proposal was a form of internal responsibility in ensuring the sustainability of Garuda.
“We have sent the Garuda Indonesia Rescue Proposal to the President and the Minister of SOEs,” Tomy said in a release, Saturday (23/10).
In addition, he said that employees have also sacrificed as a form of sense of crisis by enforcing the efficiency of cutting salaries by 25 percent-50 percent since last year until now due to the covid-19 pandemic.
Not only from employees, he hopes that all policy makers can also encourage the rescue of the flag carrier.
“We ask Mr. President Joko Widodo and the Minister of SOEs to provide full support for the rescue efforts flag carrier Garuda Indonesia,” he added.
In his statement, Tomy emphasized the importance of saving Garuda by the government as the majority holder or 64 shares of the company.
He admitted that he was worried that the company would go bankrupt in the process of Postponing Debt Payment Obligations (PKPU) in the District Court, considering that the company’s management took rescue steps through the second option, namely through the debt restructuring process.
In fact, he said that Commission VI of the DPR RI suggested saving Garuda through option 1, namely Garuda Indonesia’s internal management must carry out a debt restructuring process by maximally direct negotiations with lessors, creditors and vendors.
“The debt restructuring process is carried out by submitting a request for settlement to the Commercial Court through PKPU, although this option 2 Garuda Indonesia risks being bankrupt by creditors,” he said.
Previously, Garuda Indonesia was threatened with bankruptcy through a PKPU lawsuit from PT My Indo Airlines in a trial held on Thursday (21/10).
However, the PN rejected the lawsuit so that Garuda was ‘safe’ from bankruptcy.
Garuda itself is currently still in debt of US$ 12.96 billion or Rp. 184.03 trillion (assuming an exchange rate of Rp. 14,200 per US dollar) as of the first semester of 2021.
If broken down, the total liabilities consist of short-term liabilities of US$5.05 billion or Rp.71.71 trillion and long-term liabilities of US$7.9 billion or Rp.112.18 trillion.
The Ministry of BUMN this week has decided that Garuda will be included in the Tourism and Supporting BUMN holding after the restructuring program is completed. Previously, the government had not included Garuda in the holding so that it would not become a burden and the company would focus on completing debt restructuring.
(well / vws)
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