Indonesia flag carrier Garuda Indonesia has slipped back into red numbers for the first six months of 2023. The carrier posted a $-109.6 million pre-tax operating loss compared to a $4.0 million profit last year. The net loss is $-76.4 million…
Singapore Airlines and Garuda Indonesia want to deepen their existing relations through a deeper commercial partnership. They want to enter a joint venture arrangement to increase passenger capacity between Singapore and Indonesia, specifically on routes to Jakarta, Denpasar, and Surabaya, the…
Garuda Indonesia plans to issue $800 million in new debt and raise $330 in fresh equity. This is part of the restructuring plan that has been presented to a court in Jakarta on June 9. Creditors of the troubled airline…
The Indonesian Ministry of State-Owned Enterprises is investigating corruption with aircraft lease contracts and procurements at Garuda Indonesia. The investigation initially focuses on the purchase of Garuda’s thirteen ATR 72-600s, but the ministry suspects the involvement of other manufacturers as…
Troubled Garuda Indonesia is set to drastically reduce its international network in 2022. From the current seventeen destinations, only five will remain, Australian website Executive Traveller reported on December 22. Garuda set to slash international network. The revised international strategy has…
Financially troubled Garuda Indonesia has secured a court order granting the carrier a short-term reprieve from making debt payments. The 9 December ruling by a commercial court comes after an IT solutions provider, Mitra Buana Koorporindo (MBK), filed a debt…