Garuda Indonesia Receives Debt Payment Relief From AP 1, AP 2, And Pertamina

Garuda Indonesia aircraft. (Irfan Meidianto / VOI)

JAKARTA - PT Garuda Indonesia (Persero) Tbk has agreed to complete the restructuring process of obligations (accounts payable) to PT Angkasa Pura 1 (Persero), PT Angkasa Pura 2 (Persero) and PT Pertamina (Persero).

The President Director of Garuda Indonesia, Irfaniaputra, said that the restructuring was part of the commitment to synergize SOEs in supporting efforts to restore the national economy, particularly through support for the acceleration of Garuda Indonesia's performance as the national flag carrier.

"The completion of the restructuring process was marked by the signing of a restructuring cooperation agreement between Garuda Indonesia together with AP1, AP2, and Pertamina with an agreement to relax the payment of Garuda Indonesia's obligations, through an extension of the payment period for operational cost obligations to AP 1, AP 2 and Pertamina for 3 (three). of the total outstanding liabilities of the company that were recorded until the end of December 2020 against the three entities, "said Irfan in a written statement, Wednesday, January 6.

Irfan added that the completion of the restructuring process was inseparable from the participation of the government through the Ministry of BUMN RI in supporting efforts to accelerate the restoration of Garuda Indonesia's performance.

"Of course, we hope that this restructuring will support efforts to improve Garuda Indonesia's financial condition, especially through optimizing the company's liquidity performance with the support of AP 1, AP2, and Pertamina for relaxing the period of payment of the company's obligations," said Irfan.

Irfan explained, his party is optimistic that through the synergy of the improved aviation industry ecosystem, this will become a fundamental foundation in supporting business continuity that is more optimal for the future of Garuda Indonesia's business in the future.

"Through this restructuring of the Company's obligations, we hope that Garuda Indonesia can move more dynamically to maximize its performance recovery efforts, through various strategic steps in strengthening the company's business focus in a sustainable manner," concluded Irfan.