Garuda Indonesia Group
Garuda Indonesia Group, officially known as PT Garuda Indonesia (Persero) Tbk, is an Indonesian airline group based in Jakarta. Originally founded in 1949, Garuda Indonesia is the national flag carrier of Indonesia. Together with low cost subsidiary Citilink, the Group operates an extensive network of domestic and international services from their main hub at Soekarno-Hatta International Airport.
The Group is headquartered at Soekarno-Hatta International Airport, Jakarta and majority government-owned while a portion of shares are also listed on the Indonesia Stock Exchange (IDX: GIAA).
Members of the Garuda Group include:
- Garuda Indonesia (since Jan-1949)
- Citilink (100%, since 2001)
In Nov-2021, Indonesia's State-Owned Enterprises Deputy Minister Kartika Wirjoatmodjo stated Garuda Indonesia was in talks to restructure USD6.3 billion of debt and expected to reach an agreement in 2Q2022.
Garuda Indonesia's debt restructuring process was extended two months by a Jakarta Court, as the carrier is yet to verify over USD10 billion in claims. Court appointed curator for the case Martin Patrick Nagel stated the carrier will now have until 20-May-2022 to complete its overall debt restructuring process.
On 10-May-2022, Garuda Indonesia CEO Irfan Setiaputra confirmed the carrier requested a third extension to complete its debt restructuring process from a Jakarta court.
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