The airline's restructuring proposal was approved by more than 90% of creditors, the team of administrators said.
(Reporting by Stefanno Sulaiman; Writing by Gayatri Suroyo; Editing by Martin Petty)
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62 IDR | 0.00% | -1.59% | -10.14% |
Apr. 02 | PT. Garuda Indonesia Tbk Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Jan. 05 | Garuda Indonesia Reduces Debt Owed to Bondholders by $114 Million | MT |
JAKARTA (Reuters) - Garuda Indonesia has secured enough votes from creditors for its restructuring proposal for more than $9 billion of debt, court-appointed administrators for the case said on Friday, staving off the risk of bankruptcy at the flag carrier.
The airline's restructuring proposal was approved by more than 90% of creditors, the team of administrators said.
(Reporting by Stefanno Sulaiman; Writing by Gayatri Suroyo; Editing by Martin Petty)
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