JAKARTA: Garuda Indonesia\u0027s creditors including Britain\u0027s Rolls-Royce and French planemaker Airbus will vote on Friday (Jun 17) on a US$9.7 billion debt restructuring proposal, for which the flag carrier is confident of winning enough backing to move forward. A simple majority from creditors at the meeting
JAKARTA: Garuda Indonesia's creditors including Britain's Rolls-Royce and French planemaker Airbus will vote on Friday on a US$9.7 billion debt restructuring proposal, for which the flag carrier is confident of winning enough backing to move forward.
The court verified 142.42 trillion rupiah worth of claims against Garuda that it will recognise under the process, but that could be challenged right up to the vote.The airline has proposed settling its debt to aircraft lessors and Islamic bond holders with new 9-year bonds and equity worth US$1.15 billion, and offered to banks and state firms a loan maturity extension by 22 years with a 0.1 per cent interest rate.
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