Garuda boss says bankruptcy is off the table

Airlines worldwide are under immense pressure as the pandemic and tight restrictions on movement decimated demand for travel.

JAKARTA: The head of Indonesia’s flag carrier said better terms on aircraft loans will help it avoid falling into bankruptcy as the nation grapples with surging coronavirus cases.

“We discussed the risks, the benefits, the pluses and minuses and the company’s leadership decided against it, ” PT Garuda Indonesia president director Irfan Setiaputra said when asked in a Sept 18 interview about considering bankruptcy proceedings.