Threatened To Be 'Kicked' From The Stock Exchange For Having Been Parked For 6 Months, Garuda Indonesia Boss: We Are Focused On Making Our Best Efforts To Restore Performance

Garuda Indonesia aircraft. (Photo: Wikimedia Commons)

JAKARTA - The Indonesia Stock Exchange (IDX) has firmly announced that PT Garuda Indonesia (Persero) Tbk has the potential to be removed from the main board. This happens if the company does not indicate a recovery within 24 months from the date the suspension of trading in the regular and cash markets was signed.

The potential delisting refers to the stock exchange announcement No.Peng-SPT-00011/BEI.PP2/06-2021 dated June 18, 2021 regarding the Temporary Suspension of Securities Trading of PT Garuda Indonesia (Persero) Tbk.

In addition, it also refers to the Stock Exchange Regulation Number II concerning Delisting and Relisting of Shares on the Exchange.

In response to this, the President Director of PT Garuda Indonesia (Persero) Tbk said that Garuda Indonesia continues to give full attention to this matter. For this reason, his party is currently making the best efforts in accelerating performance.

"Currently, we are focusing on making the best efforts in accelerating performance recovery through the PKPU process in order to produce the best agreement in the settlement of business obligations, so that later Garuda shares can be traded as before," he said in a short message received by VOI, Tuesday, December 21.

According to the information submitted by the IDX, said Irfan, the delisting of shares is carried out after the stock suspension lasts at least 24 months from the time the suspension was announced. Meanwhile, Garuda Indonesia shares have been suspended for 6 months due to the delay in payment of the sukuk coupon.

"Therefore, we will further optimize PKPU's momentum in accelerating performance recovery steps to make Garuda Indonesia a healthier, more agile and competitive company," he said.