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Garuda Bets on Recovery With Indonesia Relaxing Virus Curbs

  • Passenger traffic climbs to 16% of capacity after rules eased
  • Airline not to seek more financial help from government: CEO
Garuda Indonesia IPO Raises $530 Million In IPO

Photographer: Dimas Ardian/Bloomberg

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Indonesia’s flag carrier is betting on further easing of social distancing rules to spark a revival in travel for work and leisure after the coronavirus pandemic pushed the airline to seek a debt restructuring and government aid to stay afloat.

PT Garuda Indonesia’s passenger traffic has risen to 16% of its capacity after the government lifted a temporary ban on non-essential travel last month, President Director Irfan Setiaputra said in an interview. Travel demand may further improve if authorities open up popular tourist destinations like Bali, he said.