Restructuring Garuda Indonesia: High Tide in Hard Times

Abstract

This article examines Garuda Indonesia’s financial crisis and the efforts taken to save it from the said crisis. The analysis follows the ongoing progress of Garuda Indonesia restructuration in the wake of its huge debt up until May 2022. The main issues discussed in this article are the possible restructuring options namely debt-to-equity swap option and suspension of debt payment. In the final chapter, this article offers the proper solutions in restructuring Garuda Indonesia while also preparing the flag carrier to compete in post Covid-19 era.