Garuda faces bankruptcy, weighs options – Business – Jakarta Post

National flag carrier Garuda Indonesia is leaning toward two options to extricate itself from a debt crisis without placing additional burden on government finances.

Garuda president director Irfan Setiaputra said the airline’s board was considering four major options in negotiations with creditors but was learning tothe second or third. The first option a loan or capital injection from the government was not preferredas it would weigh on the state budget.

The second option would involve a debt postponement petition (PKPU) to restructure Garudas liabilities, such as debt, owed lease and owed salaries….