Creditors back Garuda Indonesia's $9 billion debt restructuring - administrators
FILE PHOTO: Technicians walk as Garuda Indonesia's aircraft are parked for maintenances at the Garuda Maintenance Facility (GMF) AeroAsia, at Soekarno-Hatta International airport near Jakarta, Indonesia, January 21, 2022. REUTERS/Willy Kurniawan
JAKARTA : Garuda Indonesia has secured enough votes from creditors for its restructuring proposal for more than $9 billion of debt, court-appointed administrators for the case said on Friday, staving off the risk of bankruptcy at the flag carrier.
The airline's restructuring proposal was approved by more than 90 per cent of creditors, the team of administrators said.
Source: Reuters
