Garuda faces key debt deadline with restructuring on the line
Published 16 Jun,2021 via Bloomberg Markets - Troubled flag carrier PT Garuda Indonesia faces a key deadline on Thursday with a payment on its Islamic debt that will reflect its ability to deal with a financing crunch.
The Southeast Asian airline has been trying to avoid bankruptcy as it struggles with the decimation of the global travel industry due to the pandemic. The government said early this month that it’s considering a debt standstill for the carrier to allow it to restructure.
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Tassia Sipahutar and Harry Suhartono