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Garuda completes financial restructuring with creditors

Garuda Indonesia completed its financial restructuring with creditors by finalizing a re-worked $277 million debt agreement with the European Export Credit Agency.

Garuda decreased its debt from $868 million in 2005 to $464 million (as of Nov. 30) through a combination of payment, debt buy-back and equity conversion strategies. The $277 million, which was used in part to fund six Airbus A330s in 1996, was restructured to allow repayment through 2016.


 

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As a subscriber to one of Aviation Week Network’s market briefings, your searches only provide you with access to articles from within that product.

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As a subscriber to one of Aviation Week Network’s market briefings, your searches only provide you with access to articles from within that product.

To find out about obtaining additional data – including the most comprehensive details on organizations, fleets, personnel and programs – click here or call +1.561.279.4661.


 

As a subscriber to one of Aviation Week Network’s market briefings, your searches only provide you with access to articles from within that product.

To find out about obtaining additional data – including the most comprehensive details on organizations, fleets, personnel and programs – click here or call +1.561.279.4661.