Indonesia’s Garuda confident of restructuring debt as it’s severely hit by COVID-19
JAKARTA – National carrier Garuda Indonesia will restructure its liabilities amid tight cashflow as the travel industry takes a significant hit due to the COVID-19 pandemic, Irfan Setiaputra, its CEO told Salaam Gateway.
The listed company is currently in “survival mode” after being disrupted by the global health crisis.
“It’s very challenging. Initially we monitor (passenger traffic) on a weekly basis, but at the moment we already monitor on a daily basis,” said Irfan, who became CEO just three months ago.
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