Creditors of PT Garuda Indonesia looking to recoup money in the airline’s $9.8 billion debt restructuring must submit their bids on Wednesday.
The deadline of 5 p.m. Jakarta time (10 a.m. in London) for filing claims will be the first in a series of milestones and months of wrangling that could stretch into September. The airline is seeking to cut liabilities to $3.7 billion and renegotiate leasing terms or return planes to aircraft lessors with the smallest penalties possible.
