Two lessors file applications to cancel Garuda Indonesia restructuring deal

JAKARTA: Two lessors have filed applications in a Jakarta court in a bid to cancel flag carrier Garuda Indonesia's restructuring deal, a court website showed.

Garuda reached an agreement with its creditors, which include lessors and Islamic bond investors, last June to restructure more than $9 billion of debt.

The lessors, which filed the applications on Tuesday, are Ireland-based firms Greylag Goose Leasing 1410 and 1446. They have also filed multiple lawsuits against Garuda overseas courts.

In the applications, the lessors also asked the Central Jakarta court to declare that Garuda failed to conduct its restructuring deal and to declare the carrier is in bankruptcy, the filing showed.

Garuda did not immediately respond to a request for comment.

Last month, Garuda sued the two Ireland-based lessors at the same Jakarta court to counter the lessors' overseas lawsuits with the first hearing scheduled on May 9. - Reuters

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Garuda , restructuring , lawsuit , lessor , court


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