The past few years have been difficult for PT Garuda Indonesia Tbk (GIAA). The Central Jakarta District Court recorded 20 lawsuits related to Garuda Indonesia within the period, not to mention disputes in other countries. By the end of January 2021, a United Kingdom (UK) High Court granted Garuda’s application for a stay of proceedings related to one of the lawsuits. Not long after that, the London Court of International Arbitration granted the arbitration petition filed by two of Garuda’s lessors. A bankruptcy lawsuit previously filed against Garuda Indonesia was withdrawn. In the country, a lawsuit on Suspension for Debt Payment (PKPU) was denied just two months ago. A day after the lawsuit was denied, a new PKPU lawsuit was submitted. Last week, the new PKPU lawsuit was granted. Garuda Indonesia is officially in a temporary PKPU period.
To subscribe please click here