Garuda grounds two-thirds of fleet
National flag carrier Garuda Indonesia says nearly two-thirds of its 142-strong aircraft fleet is grounded.
In a stock exchange filing it is only operating 53 aircraft at the moment. It cites maintenance and leasing problems. The vast majority of its aircraft are leased and the airline has been seeking to delay repayments to suppliers, including lessors, die to its perilous financial state.
It wants to return many leased planes to cut its expenses.
"The company is still negotiating with lessors over the grounded aircraft, either to resume their operation or return them," the filing said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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