Garuda Indonesia to seek suspension of debt payments to avert bankruptcy

Garuda Indonesia to seek suspension of debt payments to avert bankruptcy

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.

National flag carrier Garuda Indonesia will seek a suspension of debt payments to creditors and lessors under a ‘standstill agreement’ in order to avoid bankruptcy, a senior government official said on Thursday.