Garuda Indonesia Wins Creditors' Approval for US$ 9 Billion Debt Resettlement Plan

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - JAKARTA. Garuda Indonesia's proposal for restructuring its more than US$ 9 billion of debt won the approval on Friday from the vast majority of the airline's creditors, staving off the risk of bankruptcy at the embattled flag carrier. Officials said.

More than 90% of creditors who attended Friday's vote on the plan at a Jakarta court accepted Garuda's proposal, enough to reach agreement for all who submitted claims, a team of administrators appointed by the court said.