Boeing Doesn't Participate In Garuda Indonesia's PKPU Voting, Why?

JAKARTA - President Director of PT Garuda Indonesia (Persero) Tbk, Irfan Setiaputra, revealed that the aircraft manufacturer Boeing as a creditor did not participate in the voting process today.

Irfan made this statement during the voting process in the PKPU trial, which was held at the Central Jakarta District Court, Friday, June 16.

But unfortunately, Irfan was reluctant to reveal, the main reason Boeing's management did not participate in the PKPU of issuers with the stock code GIAA.

"So Boeing, this is an aircraft manufacturer that does not participate in PKPU, but has a large value of not submitting a bill within the specified time, (receivables) 822 million US dollars or 10 trillion," Irfan said, Friday.

Furthermore, Irfan explained, there was a change in the nominal value of the debt securities contained in the debt restructuring proposal.

Initially, the nominal value of the bonds reached 800 million US dollars, but there was an increase to 825 million US dollars.

The increase occurred after management negotiations with creditors.

"The form of debt with a total value of 825 million US dollars, there is an increase from the previous draft of 800 million US dollars," said Irfan.

Irfan explained that the issuance of debt securities was an important point in the settlement of Garuda Indonesia's debts.

This is because debt securities are a restructuring instrument for creditors with a claim value of more than Rp255 million.

For your information, as reported by Garuda's PKPU page, Garuda Indonesia's debt set by the Management Team for Postponing Debt Payment Obligations (PKPU) is Rp. 142 trillion. The details are IDR 104.37 trillion total List of Fixed Receivables (DPT) for lessors, DPT non-lessors for IDR 34.09 trillion, and preferred DPT for IDR 3.95 trillion.

Garuda's total debt recorded an increase from the previous report, where as of the third quarter of 2021 the company's debt reached Rp139 trillion.

The number of creditors that have been verified by the PKPU Management Team has only reached 501 entities. This amount consists of 355 non-lessor entities, 123 lessor entities, and 23 preferred entities.