JAKARTA, COMPASS.TV– Garuda Indonesia is currently waiting for the decision on the lawsuit for Postponement of Debt Payment Obligations (PKPU) at the Jakarta Commercial Court.
If the state-owned airline is declared bankrupt, the government through the Ministry of SOEs will open the option to replace Garuda with Pelita Air.
Responding to this, VP Corporate Secretary & Investor Relations Garuda Mitra Piranti stated that there has been no official information received by his party regarding the follow-up option for Garuda’s performance recovery.
Mitra emphasized that his party is still trying to improve the company’s performance. Both in terms of financial performance and improving the business model in the long term, through a comprehensive restructuring program.
“We have also intensified these efforts through various measures to support performance improvement, especially from the operational aspect of flights,” said Mitra as quoted from the IDX information disclosure, Wednesday (20/10/2021).
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Garuda is optimistic that its performance will be helped along with the recovery of the aviation industry. The spread of the Covid-19 virus that can be suppressed and massive vaccinations have allowed people to return to their activities. Plus, leading tourist destinations have been reopened.
Garuda is also still coordinating with the Ministry of SOEs as the controlling shareholder, regarding the restructuring plan that will be implemented in line with the ongoing PKPU process.
The PKPU verdict trial was supposed to be held last Thursday (14/10/2021), but was postponed to next week because the panel of judges was not present.
“Before the restructuring process, there were 4 options that the Government would take, in this case the Ministry of SOEs as reported above. However, in its development, the Company carried out a debt restructuring process assisted by several consultants,” said Mitra.
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