Garuda Indonesia PKPU Results Announced In May, This Is Erick Thohir's Response

JAKARTA - The government continues to look for solutions to the condition of PT Garuda Indonesia (Persero) Tbk (GIAA), one of which is through debt restructuring with the Debt Payment Obligation (PKPU) scheme. The total debt of Garuda Indonesia reached Rp. 139 trillion.

The results of the PKPU will be announced in mid-May.

Minister of State-Owned Enterprises (BUMN) Erick Thohir also hopes that the PKPU decision will have a good impact on the performance of this national airline.

"So indeed we are concerned with this flight, we will wait for the decision from PKPU on May 17 or 20, we will wait for the decision who knows it can be a joint solution, then we will increase activities on how to support infrastructure, especially the aviation sector," he said when met in the region. Gelora Bung Karno (GBK), Senayan, Jakarta, Wednesday, April 27.

Furthermore, Erick said that efforts to encourage the completion of Garuda Indonesia continued to be carried out optimally. Moreover, the Working Committee (Panja) of Commission VI DPR RI has given full support so that Garuda is saved from the abyss of bankruptcy.

Erick emphasized that his party would strongly reject the tendentious debt restructuring results. This means that there are no more high-priced rental or leasing agreements. He also said he did not want to be pressured by the lessor.

"So that's where we have to anticipate, why? Again, we encourage the maximum settlement of Garuda, but of course it's a good solution, we don't want to be pressured by the lessor, it must be resolved with expensive rents and elements of corruption," he said.

For your information, Garuda Indonesia is one of the airlines experiencing financial problems during the COVID-19 pandemic. The financial structure of the issuer with the GIAA stock code is indeed bloody because income and expenses are not balanced. This condition was exacerbated by the total debt that reached Rp139 trillion.

Efforts to save Garuda's business are also carried out through the provision of State Capital Participation (PMN). The government through the Ministry of Finance will inject funds to companies amounting to Rp7.5 trillion in 2022.

The budget injection was carried out after the Panja and the Ministry of SOEs agreed on the implementation of the state-owned airline's business and financial rescue scheme.