Flag carrier Garuda Indonesia mulls court-led debt restructuring

Flag carrier Garuda Indonesia mulls court-led debt restructuring

Workers clean the body of a Garuda Indonesia Airbus A320 aircraft inside Hangar 4 of PT Garuda Maintenance Facility (GMF) Aero Asia at Soekarno-Hatta airport in Jakarta.

Flag carrier Garuda Indonesia, which last week defaulted on a $500 million sukuk, is considering a court supervised debt restructuring process and is in talks to slash its fleet size, company executives said on Monday.