Indonesias embattled flag carrier Garuda has revealed the dire extent of its downsizing of operations as it urgently seeks to restructure its business and stem losses, and may need to consider a future largely focused on domestic flying.
Garuda currently operates just 53 aircraft of its fleet of 142, it says in a response to wide-ranging queries from the Indonesia Stock Exchange on its operations and restructuring.
The latest details revealed by Garuda paint a grim picture of a carrier whose troubles started before the pandemic.
Garuda says it is in the process of conducting a comprehensive study, which includes operational aspects, strategy, business transformation and finance, as part of restructuring efforts that take into accoun…
Read the full article at: https://www.flightglobal.com/strategy/garuda-paints-grim-picture-amid-restructuring/144090.article