{"id":111369,"date":"2021-06-03T18:00:00","date_gmt":"2021-06-03T18:00:00","guid":{"rendered":"https:\/?p=111369"},"modified":"2021-06-03T23:44:23","modified_gmt":"2021-06-03T23:44:23","slug":"garuda-indonesia-seek-suspension-debt-payments","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2021\/06\/garuda-indonesia-seek-suspension-debt-payments.html","title":{"rendered":"Garuda Indonesia to seek suspension of debt payments to avoid bankruptcy."},"content":{"rendered":"\n<p>National flag carrier <strong>Garuda Indonesia<\/strong> will seek a suspension of debt payments to creditors and lessors under a \u2018standstill agreement\u2019 in order to avoid bankruptcy, a senior government official said on Thursday, <a href=\"https:\/\/www.reuters.com\/article\/garuda-indonesia-debt\/garuda-indonesia-to-seek-suspension-of-debt-payments-to-avoid-bankruptcy-idUSL3N2NL25K\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Reuters<\/a> reported.<\/p>\n\n\n\n<p>The coronavirus pandemic has put the state-controlled airline\u2019s finances under serious strain with a negative cashflow of about $100 million a month and ballooning debt, Kartika Wirjoatmodjo, Indonesia\u2019s deputy minister of state-owned enterprises (SOEs), told a parliamentary hearing.<\/p>\n\n\n\n<p>The carrier needed a \u201cfundamental restructuring\u201d to reduce its debt to around $1 billion to $1.5 billion, from $4.5 billion currently, to continue as a going concern, he said.<\/p>\n\n\n\n<p>\u201cWe are appointing legal and financial consultants to begin this process and we must immediately conduct a moratorium (of debt repayments) or a standstill in the near term,\u201d Kartika said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Related Topics<\/h2>\n\n\n\n\t\t\t<div class=\"wp-block-uagb-post-grid uagb-post-grid  uagb-post__image-position-top uagb-post__image-enabled uagb-block-d283084a     uagb-post__items uagb-post__columns-2 is-grid uagb-post__columns-tablet-2 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a&hellip;\n","protected":false},"author":4316,"featured_media":110709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[230,465,707],"class_list":{"0":"post-111369","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"tag-airline","9":"tag-asia-2","10":"tag-garuda-indonesia"},"uagb_featured_image_src":{"full":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-150x150.jpg",150,150,true],"medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-300x150.jpg",300,150,true],"medium_large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-768x384.jpg",768,384,true],"large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"1536x1536":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"2048x2048":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"pk-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",80,40,false],"pk-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",300,150,false],"csco-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-380x190.jpg",380,190,true],"csco-medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"csco-medium-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"csco-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"csco-large-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false],"csco-extra-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/Garuda-Indonesia-B737-800.jpg",800,400,false]},"uagb_author_info":{"display_name":"Redacci\u00f3n - Aviaci\u00f3n al D\u00eda","author_link":"https:\/\/aviacionaldia.com\/en\/author\/aad"},"uagb_comment_info":0,"uagb_excerpt":"National flag carrier Garuda Indonesia will seek a suspension of debt payments to creditors and lessors under a&hellip;","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/111369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/users\/4316"}],"replies":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/comments?post=111369"}],"version-history":[{"count":2,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/111369\/revisions"}],"predecessor-version":[{"id":111372,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/111369\/revisions\/111372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media\/110709"}],"wp:attachment":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media?parent=111369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/categories?post=111369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/tags?post=111369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}