Garuda Indonesia files for Chapter 15 US bankruptcy procedure - CEO
FILE PHOTO: A worker walks on a crane as a Garuda Indonesia's aircraft is parked at the Garuda Maintenance Facility (GMF) AeroAsia, at Soekarno-Hatta International airport near Jakarta, Indonesia, January 21, 2022. REUTERS/Willy Kurniawan/File Photo
JAKARTA : Flag carrier Garuda Indonesia has requested a court in New York to recognise its recent debt restructuring deal done at a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code, its chief executive, Irfan Setiaputra, told Reuters.
Garuda and its creditors agreed to halve its debt to around $5 billion in a deal overseen by a bankruptcy court in Jakarta in June.
Source: Reuters
