PKPU Decision Comes Out, Garuda’s Debt Restructuring Agenda is Revealed

PT Garuda Indonesia Tbk (GIAA) revealed a debt restructuring agenda with a number of creditors as a follow-up to the decision on temporary suspension of debt payment obligations (PKPU).

Citing the information disclosed by Indonesia Stock Exchange (IDX), Wednesday (15/12/2021), the result of GIAA’s PKPU was related to the Commercial Court’s Decision at the Central Jakarta District Court on December 9th 2021 based on the Appointment of the Supervisory Judge on December 13th 2021.

GIAA’s PKPU schedule shall be conducted as planned below:

  1. First Creditors Meeting’s Schedule: Tuesday, December 21st 2021
  2. Deadline for Filing Claims for Creditors: Wednesday, January 5th 2022
  3. Creditors Meeting for Tax Verification and Accounts Receivable Matching: Wednesday, January 19th 2022
  4. Conciliation Plan Discussion Meeting as well as a Voting Meeting on Conciliation Proposals and/or PKPU Extension Proposal: Thursday, January 20th 2022
  5. Deliberative Session of the Judges to decide the case: Friday, January 21st 2022

GIAA’s Finance and Risk Management Director, Prasetio, urged the creditors to submit the invoices and supporting documents to PKPU Management Team through website or their hard copies to the address of the Secretariat Office. As for this result, there shall be no impact on GIAA’s operations. 

“During the PKPU process, the Company (GIAA) ensures that all aspects of flight operational activities will continue as normal. The Company is committed to always optimizing the availability of safe and comfortable flight kits” he wrote.

Further announcements regarding GIAA’s PKPU Decision has also been published in the mass media and on the website

Through this disclosure of GIAA’s debt restructuring agenda, it is hoped that the Company can provide transparency of timeline for the creditors  and GIAA’s customers with regards to the ongoing temporary PKPU process and how it relates to GIAA’s services. Moreover, GIAA’s Finance and Risk Management Director’s statement which is announced publicly is also hoped to provide the customers certainty and security on the Company’s service despite the current ongoing temporary PKPU process.


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