Jakarta –
State-owned airline PT Garuda Indonesia (Persero) Tbk condition is not good. In addition to losses, this BUMN also has a ‘mountain’ debt.
Various schemes were prepared to save Garuda Indonesia. The implementation of the rescue scheme has been agreed by the House of Representatives Commission VI Working Committee and SOE Minister Erick Thohir.
Quoted from the information disclosure of the Indonesia Stock Exchange (IDX), Monday (25/4/2022), Garuda suffered a loss of US$ 1.66 billion or equivalent to Rp. 23.73 trillion (assuming an exchange rate of Rp. 14,300) in September 2021, according to the interim financial report released by the Indonesian Stock Exchange. not audited. This loss increased compared to the same period the previous year of US$ 1.07 billion.
Revenue and sales until September 2021 were US$ 939.02 million. This revenue decreased compared to the same period in 2020 of US $ 1.13 billion.
Garuda’s total assets were recorded at US$ 9.42 billion. This asset also decreased from the previous US$ 10.78 billion.
Meanwhile, the company’s liabilities amounted to US$ 13.02 billion, an increase from the previous US$ 12.73 billion. The liabilities consist of current liabilities of US$ 5.28 billion and long-term liabilities of US$ 7.73 billion.
Furthermore, Garuda’s total equity or capital was recorded at minus US$ 3.60 billion. This equity decreased compared to the same period the previous year minus US$ 1.94 billion.
Meanwhile, in the report on the implementation of the Garuda Rescue Committee of the House of Representatives Commission VI received by detikcom, the funding requirement for Garuda reached US$ 936 million or around Rp. 13.38 trillion. As for the details, as much as US$ 527 million or Rp. 7.5 trillion is the minimum fund for Garuda so that it can resume operations in a healthy manner.
This portion is expected to come from the government as the majority shareholder of Garuda Indonesia. The funds will be used, among others, for minimum cash, restructuring costs, restoration costs and aircraft leases.
“US$ 409 million is the portion of the development that will be used for tax payments, employee debt payments, employee rationalization, post-PKPU debt payments and aviation fuel and other costs,” the report further stated.
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(acd/zlf)
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