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Garuda Plans Major Restructuring That May Halve Its Fleet

  • Airline could face ‘abrupt end’ if restructuring not executed
  • President Director Setiaputra spoke in address to staff
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Photographer: Dimas Ardian/Bloomberg
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PT Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as the airline seeks to survive the crisis wrought by the pandemic, its president told staff last week.

“We have to go through a comprehensive restructuring, a total one,” President Director Irfan Setiaputra said in an address to staff on May 19, according to a recording heard by Bloomberg. “We have 142 aircraft and our preliminary calculation on how we see this recovery has been going, we will operate with a number of aircraft no more than 70.”