First PKPU Meeting, Garuda Indonesia Boss Presents Peace Plan Scheme

President Director of Garuda Indonesia, Irfan Setiaputra. (Photo: Doc. Antara)

JAKARTA - PT Garuda Indonesia (Persero) Tbk continues to accelerate its restructuring efforts by establishing constructive communication with creditors, lessors, and related stakeholders. One of them is in the meeting on the Suspension of Debt Payment Obligations (PKPU).

Garuda Indonesia President Director, Irfan Setiaputra, said his party held the first creditors meeting through the Temporary PKPU process at the Commercial Court at the Central Jakarta District Court.

This meeting is the first agenda in a series of PKPU processes proposed by PT Mitra Buana Koorporindo (MBK) as a creditor.

Accompanied by Garuda Indonesia's Director of Finance and Risk Management, Prasetio and together with legal and financial advisors who officially accompanied the entire PKPU process, Garuda also explained the current conditions and business performance challenges facing the company.

"This includes submitting the peace plan scheme that has been prepared as part of the restructuring process to creditors and the Management Team appointed by the Central Jakarta District Court", he said in a written statement received by VOI, quoted Wednesday, December 22.

On this occasion, Irfan emphasized that Garuda Indonesia will continue to proactively open discussions with creditors for the success of the company's restructuring.

"As stated by the Management Team, PKPU is not bankruptcy, but an effort to reach the best agreement on steps to settle Garuda Indonesia's business obligations to creditors", he said.

Especially considering the current situation, Irfan said that Garuda Indonesia has consistently put forward its commitment to upholding the principles of transparency and good faith so that it is hoped that the PKPU process can take place optimally, efficiently, and also fairly for all parties.

"We are very open to amicable and goodwill-based negotiations and dialogue with creditors and lessors", he said.

After the initial meeting, creditors are allowed to submit an invoice no later than January 5, 2021, which will be further verified and matched at the second creditors meeting in mid-January.

During the PKPU process, Garuda Indonesia ensures that flight operational services for both passengers and cargo remain optimally available. Because, said Irfan, the trust of loyal Garuda customers is the spirit of management to continue to provide the best, through safe and comfortable services for all Garuda customers.

"We are grateful for all the support and attention of stakeholders for Garuda's business continuity to date. We view that this PKPU process will be a turning point in efforts to restore Garuda Indonesia's performance, where through the PKPU process that we are currently undergoing, we hope to provide a more measurable outlook towards We are maximizing performance recovery steps", he said.