Garuda Indonesia (GA) will start an accounting process this month that will erase its accumulated losses of IDR6.8 trillion ($748 million) and enable it to post a profit in the next reporting period. GA finance director told the Jakarta Globe newspaper that the airline plans to clear its balance sheet by restating assets, liabilities and capital accounts—using its capital to scrap deficit without the Elisa Lumbantoruan formalities of a complete restructuring. For accounting ...

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