Garuda Indonesia Postpones Payment of Global Sukuk Coupons Worth USD 500 Million Again

Indonesia’s airline Garuda Indonesia (Garuda) has announced that it will continue to postpone the periodic distribution amount under its USD 500 million Global Sukuk Limited Trust Certificates due at the end of 2021, according to an information disclosure on the Indonesia Stock Exchange (IDX) dated 3rd of December 2021.

Why it Matters?

According to Prasetio, Director of Finance and Risk Management at Garuda, the postponement of the global Sukuk coupon payment was conducted with careful consideration for the sake of business continuity of the airline amid the COVID-19 pandemic. Prasetio added that the delay in payment in 2021 was the best step for Garuda for the time being to ensure that business continuity efforts could be well maintained. This...