Garuda Indonesia Gets Respite as Court Rejects Debt Petition (1)

Flag carrier PT Garuda Indonesia got some respite in tackling its mounting debt after a local court turned down a debt petition filed against it.

A panel of judges at the Central Jakarta Commercial Court rejected a debt suspension petition filed by cargo airline My Indo Airlines in a hearing on Thursday, the airline said. The panel said it didn’t find enough evidence that Garuda couldn’t settle a payment toward the business partner, according to people familiar with the matter.

“Going forward, Garuda will continue to focus on efforts to restructure its business and operational liabilities, while ensuring flight operations ...