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Garuda Indonesia granted third extension for submission of debt restructuring plan
May 23rd 2022
Central Jakarta District Court has granted Garuda Indonesia a 30-day extension to finalise its debt restructuring, local media reports quoting a court official. Read More » This is the third time the airline has requested more time to reach agreement with creditors on terms for reducing its US$9.8 billion debt to US$3.7 billion. Garuda has said previously the restructuring will include a radically reduced aircraft fleet and network. The new deadline is June 20.
