Indonesia’s stock exchange says it may delist cash-strapped flag carrier Garuda Indonesia. The airline’s shares have been suspended for more than six months.
Garuda is currently in a legally sanctioned debt restructuring to service an estimated $9.8 billion debt.
Chief executive Irfan Setiaputra said it will soon present restructuring options to creditors to renegotiate the debt. The airline had a $1.6 billion unaudited loss in the first nine months of 2021.
