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Debt Reaches Rp. 142 Trillion, Here Are 3 Facts About Garuda’s Condition

Jakarta

PT Garuda Indonesia (Persero) Tbk is currently undergoing the process of postponing its debt payment obligations (PKPU). Garuda Indonesia President Director Irfan Setiaputra hopes that the debt settlement process through the PKPU scheme can be completed quickly, so that it can focus on pursuing Garuda’s business expansion.

Irfan is also confident that the proposals offered by his party will be accepted by creditors. Here are 3 important facts related to PKPU Garuda.

1 Garuda Debt Rp 142 T

So far, Garuda’s total debt recorded and acknowledged by the PKPU Management Team has reached Rp. 142 trillion. Reporting from the Garuda PKPU page, Thursday (16/6/2022), this amount was taken from the list of fixed receivables (DPT) uploaded on the website as of June 14, 2022.

This amount represents the total DPT of lessor companies of Rp 104.37 trillion, non-lessor companies’ DPT of Rp 34.09 trillion, and preferred DPT of Rp 3.95 trillion.

It is noted that to date there are 501 registered and verified creditors in the Garuda PKPU process. The majority of existing creditors are lessor companies with 355 parties, then non-lessor companies with 123 parties, and preferred creditors with 23 parties.

2. Vote for Peaceful Proposals

The new round of Garuda’s PKPU itself will be held tomorrow, June 17, 2022. Meanwhile, the agenda for the announcement of the PKPU results will continue on June 20, 2022.

Irfan himself is confident that the creditors will agree to the proposal offered by his side. So far, interactions with creditors have gone well.

“Our interaction with them is through email correspondence, basically there are quite a lot of people who want to vote yes,” said Irfan to reporters in a meeting at his office, Kebon Sirih, Central Jakarta, Thursday (16/6/2022).

Irfan claims that there are already 50% of creditors who are committed to agreeing to the peace proposal offered by his party. He and the company carried out a long negotiation process with creditors.

In the PKPU voting process itself, Irfan’s party must meet the approval of 50+1% of the total creditors registered in the PKPU process.

In addition, Garuda must also pursue the target of 67% of the total debt of creditors registered with PKPU. So even though 50% of creditors have agreed to Garuda’s amicable proposal, the total debt must reach 67% of the total debt registered with PKPU.

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