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The government is preparing a plan for state-owned charter airline PT Pelita Air Service to take over Garuda Indonesia’s domestic routes as courts pass decisions, both favourable and unfavourable, over the financially-ailing national air carrier.
An Indonesian court has rejected cargo company PT My Indo Airlines' (MYIA) request to restructure the debt of PT Garuda Indonesia as it failed to meet legal requirements, its lawyer said.
JAKARTA: Indonesia is preparing a backup plan for flag carrier PT Garuda Indonesia if it fails to reach a deal with creditors, including the option of upgrading air charter PT Pelita Air Service to a scheduled airline.
Philippine Airlines Inc. filed for Chapter 11 bankruptcy in New York with a lender-supported plan that helps the country’s main carrier recover after the pandemic devastated global travel.
Flag carrier PT Garuda Indonesia has shrunk its management to reduce costs as the airline restructures its way out of a pandemic-driven financial crunch.
JAKARTA (The Jakarta Post/ANN): Flag carrier Garuda Indonesia is facing an insolvency lawsuit over its failure to pay aircraft lease while trying to stay afloat in an industry severely hit by the Covid-19 pandemic.
Indonesia has lost its prized upper middle-income status after only a year, as Southeast Asia’s largest coronavirus outbreak reverses gains in poverty and employment.
Singapore Airlines Ltd (SIA), flush with US$16 billion raised since the start of the pandemic thanks to help from a state investor, is in a position of dominance among its Southeast Asian rivals as they downsize and restructure.
JAKARTA (Xinhua): Indonesia on Wednesday (June 30) recorded 21,807 newly-confirmed cases of Covid-19 in the past 24 hours, marking the highest daily spike and bringing the total tally to 2,178,272, the Health Ministry said.