JAKARTA, June 18 (Reuters): Flag carrier Garuda Indonesia said it could not distribute coupon payments for its US$500 million sukuk after a 14-day grace period, with the airline's finances still significantly impacted by the coronavirus pandemic.
"Under these circumstances, and in order to ensure the company emerges from the pandemic as a strong and healthy airline, the company announced today that it has reluctantly concluded that it must continue to defer the payment," the airline said in a statement.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!