Boeing Skips Garuda Indonesia's PKPU Voting

TEMPO.CO, Jakarta - Garuda Indonesia president director Irfan Setiaputra said that Boeing did not participate in the Suspension of Debt Payment Obligations (PKPU) voting held at the Central Jakarta District Court. 

The American aerospace company did not register in the District Court's PKPU despite being one of Garuda's creditors with accounts receivable (AR) amounting to USD 822 million (equals to roughly over IDR 10 trillion).

Irfan Setiaputra did not reveal the reason why Boeing did not participate in Garuda Indonesia's PKPU.

"Boeing is an aircraft manufacturer not participating in the PKPU, but has a large value of not submitting a bill within the specified time, (receivables) of USD 822 million or IDR 10 trillion," said Irfan at the Central Jakarta District Court on Friday, June 17, 2022.

Irfan also explained that there was a change in the nominal value of the debt securities contained in the debt restructuring proposal. Previously, the nominal value of the bonds reached USD 800 million, but there was an increase to USD 825 million after management negotiations with creditors.

Irfan said that the issuance of debt securities was an important point in the settlement of Garuda Indonesia's debts. Debt securities, Irfan said, became a restructuring instrument for creditors with a bill value of more than IDR 255 million.

Quoted from the official PKPU Garuda Indonesia website, the issuer coded for GIAA shares has a claim that the company recognizes is worth IDR 143 trillion. The amount is spread out for lessor creditors, non-lessors, and preferred creditors.

The PKPU verdict will be announced on June 20, 2022.

EKA YUDHA SAPUTRA

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