21-Oct-2009 10:56 AM

Garuda Indonesia completes restructuring deal of USD76 million in debts with PT Pertamina

Garuda Indonesia reportedly stated it has completed a debt restructuring deal for approximately USD76 million in debts owed to state oil and gas company, PT Pertamina (The Jakarta Post, 20-Oct-2009). Under the deal, the carrier will repay the debt in instalments over the next seven years. The debt originated from the purchase of jet fuel from the company between 2004 and 2006.