Stafsus Erick Talks about Potential Investors for Garuda Indonesia

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Stafsus Erick Talks about Potential Investors for Garuda Indonesia

Jakarta, CNN Indonesia — Special Staff to the Minister of SOEs , Arya Sinulingga  , opened his voice about potential  new investors to improve the finances of PT  Garuda Indonesia (Persero) Tbk.
“There are investors, both external and internal, but we tend to do it internally and internally,” said Arya during the BUMN Halal Bihalal at the Sarinah Building, Tuesday (17/5).

However, there is no clarity about the potential investors. Arya also does not want to reveal who they are.

What is certain is that the government is currently undertaking restructuring steps to improve the finances of the state-owned airline.

The restructuring was carried out by applying for a Suspension of Debt Payment Obligations (PKPU) to a number of lessors . The target is that the restructuring can restore the company’s finances in the next 2-3 years.

“That’s why we are asking for more time, because we want this PKPU to have a clear form of restructuring, it must be good, so that within 2-3 years Garuda can be positive,” he said.

However, Arya admits that the PKPU application still has several challenges. One of them is because there are lessors who have not agreed on the amount of the discount and the deadline for paying debts.

Previously, Garuda Indonesia again applied for a PKPU for 30 days to the Central Jakarta Commercial Court. In fact, Garuda is committed to complying with the Central Jakarta District Court’s decision to extend the PKPU for 60 days or until March 21, 2021.

President Director of Garuda Indonesia Irfan Setiaputra said the company applied for an extension due to the results of claim verification and the mechanism for the reconciliation plan which is still being discussed with the company’s creditors.

“As PKPU aims to get a win-win solution for all parties involved, we believe that this process needs to be carried out carefully and with the principle of prudence,” explained Irfan.

Source: May 19, 2022