Administrators acknowledge $8.3 billion in claims ahead of Garuda creditors’ meeting

JAKARTA: Administrators of Garuda Indonesia’s in-court restructuring have acknowledged 120.5 trillion rupees ($8.32 billion) in creditor claims, according to documents released on Wednesday, two days before creditors were due to discuss a proposed restructuring.

The list of claims, however, was not final as the trustees had yet to rule on several lessor claims, Martin Patrick Nagel, one of the trustees, told Reuters.

Lenders made up the largest portion of the verified list with 82.73 trillion rupees in claims from the debt-ridden flag carrier, according to documents dated June 7 and posted on the trustees’ website.

France-based aircraft manufacturer Airbus is the biggest among others with 7.8 trillion rupees claimed, it showed.

Garuda did not immediately respond to a request for comment.

The amount is lower than the initial claims of $13.8 billion filed after Garuda launched the court-led restructuring in December last year.

Garuda creditors are due to attend a meeting on Thursday to discuss a proposal to restructure the airline before voting on the plan on June 15, according to an announcement from administrators.

($1 = 14,475.0000 rupees)

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