June 21, 2022
It is estimated that Garuda can slash its liabilities by between 80 and 81 percent, with the proposal allowing the airline to convert its obligations to $825 million in new bonds and $330 million in new equity.
Creditors approve Garuda’s restructuring plan
It is estimated that Garuda can slash its liabilities by between 80 and 81 percent, with the proposal allowing the airline to convert its obligations to $825 million in new bonds and $330 million in new equity.