Garuda Indonesia is the national airline of Indonesia, based at Jakarta’s Soekarno-Hatta International Airport. The carrier operates an extensive domestic and regional network of services throughout Asia, Australia and the Middle East. In Jun-2010, Garuda resumed services to Europe (initially Amsterdam via Dubai) after an extended EU imposed ban.
Garuda has undergone a thorough restructuring in what it labelled "The Quantum Leap", which involved a dramatic redesign of the airline's strategic direction, network, brand and fleet. The airline launched an IPO in 2011 which was substantially under-subscribed at the relatively aggressive pricing sought. In Apr-2012, the government announced that talks were under way for a consortium of local investors to absorb the overhang, still held by the underwriters.
Garuda Indonesia stated that in line with the airline’s efforts to develop and strengthen its network, especially in the domestic market, it is launching a new sub-brand “Explore” along with the introduction of the ATR 72-600 aircraft into the fleet. In addition to the sub-brand “Explore”, Garuda Indonesia is also introducing the brand “Explore Jet” to operate its Bombardier CRJ1000 NextGen fleet, serving the airline’s network in both eastern and western Indonesia.
Garuda Indonesia is the 20th member of the SkyTeam alliance.
In Nov-2021, Indonesia's State-Owned Enterprises Deputy Minister Kartika Wirjoatmodjo stated Garuda Indonesia is in talks to restructure USD6.3 billion of debt and expects to reach an agreement in 2Q2022.
Garuda Indonesia's debt restructuring process has been 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.
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