Indonesia – Is Garuda Indonesia on the brink of bankruptcy? (James Guild, East Asia Forum)

COVID-19 has battered Indonesian flag carrier Garuda’s revenue and sent earnings plunging, causing trading of the airline’s shares to be halted recently after a bond default. CEO Irfan Setiaputra claimed the airline’s total debt was Rp 70 trillion (US$4.9 billion). This led to a meeting with the Ministry of State-Owned Enterprises, which put forward a number of potential resolutions including injections of state capital, privatisation or bankruptcy proceedings while the company restructures some of its debt.

Is Garuda Indonesia on the brink of bankruptcy? | East Asia Forum

Marco Emanuele
Marco Emanuele è appassionato di cultura della complessità, cultura della tecnologia e relazioni internazionali. Approfondisce il pensiero di Hannah Arendt, Edgar Morin, Raimon Panikkar. Marco ha insegnato Evoluzione della Democrazia e Totalitarismi, è l’editor di The Global Eye e scrive per The Science of Where Magazine. Marco Emanuele is passionate about complexity culture, technology culture and international relations. He delves into the thought of Hannah Arendt, Edgar Morin, Raimon Panikkar. He has taught Evolution of Democracy and Totalitarianisms. Marco is editor of The Global Eye and writes for The Science of Where Magazine.

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