ER
STATE-Owned Enterprises (SOEs) Ministry through Minister Erick Thohir revealed that there were four lessors who leased planes to PT Garuda Indonesia Tbk who had approved the peace proposal related to debt restructuring.
“The good news is that the four lessors who approved this (restructuring) are the big lessors,” said Minister Erick Thohir in a working meeting with Commission VI of the Indonesian House of Representatives in Jakarta, Tuesday (1/25).
He explained, Garuda Indonesia had submitted a peace proposal to all lessors in November 2021. Four lessors gave approval or support for the restructuring effort, while the majority of 35 lessors were in the negotiation stage.
According to Erick Thohir, Garuda Indonesia must get three additional supports from large lessors so that the majority of lessors agree to the restructuring.
“The remaining many are small lessors. This is why we continue to focus on negotiating these lessors,” said the Minister of SOEs.
He said that the seven largest lessors of Garuda Indonesia had also formed an Ad Hoc Committee, which he hoped could direct other lessors to agree on the restructuring proposal.
Currently, Garuda has received input from creditors and is in the process of negotiating the peace proposal that has been submitted. As for the next 60 days, a bill verification process will be carried out. The process is targeted to be completed no later than March 21, 2022.
“We still have time to postpone it for up to 60 days. This is what we are pushing so that the majority support the restructuring,” concluded Erick Thohir. [sources/photo special]
