JAKARTA (The Jakarta Post/Asia News Network): The State-Owned Enterprises (SOEs) Ministry has announced a new plan to save Garuda Indonesia, as the debt-laden national air carrier teeters on the edge of bankruptcy.
The proposal, unveiled by Deputy SOEs Minister Kartika Wirjoatmodjo on Tuesday (Nov 9), entails pressing creditors – including aircraft lessors, banks and business partners – to accept either a haircut or a debt-for-equity swap.
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