Latest News From Garuda Indonesia After Confirming No Longer Extending The PKPU Period: Will Announce The Recognized Debt Amount

JAKARTA - The debt restructuring process of PT Garuda Indonesia (Persero) Tbk through the postponement of debt payment obligations (PKPU), enters a new phase. Now, the issuer with the stock code GIAA has confirmed that it will no longer ask for a PKPU extension.

"According to our laws and regulations, we can be extended again up to a maximum of 270 days starting December 9. But it was conveyed at the time of the last submission we submitted a letter to the court that this was the last application for extension. So, hopefully there is no need for an extension, I I myself am quite optimistic seeing this," said Garuda Indonesia President Director Irfan Setiaputra to VOI, at the Garuda Indonesia Office, Jakarta, Tuesday, June 7.

As is known, Garuda has proposed an extension of the PKPU period for the next 30 days or until June 20. Originally, the PKPU would be held on May 20, while the creditor voting would take place on May 17.

This is the second time that Garuda Indonesia has proposed a postponement of the PKPU deadline. Previously, the Panel of Judges of the Central Jakarta District Court had extended the permanent PKPU process for Garuda Indonesia for 60 days.

In addition, in the near future, Garuda Indonesia will announce the amount of debt it has acknowledged or acknowledged by creditors.

For your information, Garuda's mounting debt reaches IDR 139 trillion. One of them is caused by the very expensive price of the plane. Even four times more expensive than the world average.

Irfan said that by looking at the progress of the ongoing PKPU process, he was optimistic that he would achieve victory.

Furthermore, Irfan also said that creditors, including other state-owned companies, were very sporty in determining claims. Therefore, Irfan said that in the near future the amount of debt recognized by both Garuda and creditors could be announced.

"In the near future we will announce how much debt we recognize and also acknowledge by creditors," he said

"Then we will talk in more detail about our peace proposal, which we have discussed for a long time, there should be no surprises in the discussions in the next few days," he continued.

Irfan said that the negotiation process had almost reached a final agreement. According to him, the negotiations are going in a positive direction.

"But the most important thing is that the majority of negotiations are moving in a positive direction, many have already expressed their support for us," he explained.