Challenges to Saving Garuda

Was Garuda the only Indonesian airline that was affected? No! Singapore Airlines Ltd., owned by Temasek Holdings, also booked losses of S$409 million, or US$302 million (Rp 4.35 trillion) in the first half of 2021.

PT Garuda Indonesia Tbk is nosediving with debts totaling US$4.9 billion, or equivalent Rp 70 trillion (at an exchange rate of Rp 14,250 per US dollar), the deadline for which fell in May 2021.

What is the strategy to save Garuda so it can fly high again? Garuda has been in the spotlight since its president director was dismissed in early December 2019 for his involvement in smuggling Harley-Davidson motorcycle components and Brompton bicycles. My goodness!