The ruling of temporary delay on debt payment obligation (PKPU) for Garuda Indonesia has paved the way for boosting performance recovery and becomes an important foundation for restructuring and restoring the company.
To this end, Garuda Indonesia has responded positively to the provisional PKPU ruling by the Commercial Court at the Central Jakarta District Court read on Thursday last week, Garuda Indonesia President Director Irfan Setiaputra noted in a written statement here on Monday.
The ruling offered a duration of 45 days to submit a peace proposal that contains a plan to restructure business obligations to creditors.
“The company will coordinate with a management team under a supervising judge and ensure all related matters proceed in accordance with the applicable law,” he explained.
Setiaputra affirmed that the process of delaying the debt payment did not mean bankruptcy. Instead, the PKPU has offered space for Garuda to negotiate with creditors through lawful means.
According to Setiaputra, the process accentuated Garuda Indonesia’s commitment to completing business obligations. It was also a step for Garuda to manifest its business foundation for the future.
“We will continue to guarantee the peace proposal that we submit is proportional. We prioritize the aspects of mutual interests among creditors, customers, partners, and stakeholders,” he pointed out.
Meanwhile, aviation observer Gatot Rahardjo explained that the ruling was arguably the right momentum for Garuda Indonesia to continue to survive.
“This good measure should be accompanied with Garuda Indonesia’s competent internal team as well as accurate and updated information and data. Garuda’s recovery becomes more visible through this PKPU,” Rahardjo explained.
He affirmed that the state flag carrier should continue to conduct its flight operations, thereby lending assurance to the creditors that Garuda Indonesia still has a bright future.
“Garuda’s operational restructuration will influence the number of offered seats nationally. The government should be able to manage it, so as not to cause doubts among creditors,” he explained.
Garuda Indonesia is worth fighting for, given its historic value for Indonesia, so the choice of PKPU is logical, aviation observer Dudi Sudibyo stated.
He added, the flag carrier should not end up with a closure, recalling the struggle in building the company.
“Hence, it needs supports from the government and all stakeholders to keep and fight for Garuda Indonesia, as its potential is still huge. In addition, Garuda is Indonesia’s symbolic image to the world,” he explained.
Source: Antara News