JAKARTA (July 19): Flag carrier Garuda Indonesia has been brought to court after failing to pay a debt to an air cargo firm PT My Indo Airlines (MYIA), the two companies said on Monday. The court proposal had no immediate impact on Garuda's operations, the company said in the statement, adding it will ensure flight services continue. PKPU is an Indonesian court proceeding that could be initiated by either debtor or creditor seeking debt settlement. Garuda has said it is considering settling its outstanding debt in court as its finances continue to be significantly impacted by the coronavirus pandemic. The airline reported around a loss of about US$2 billion in 2020, with its short-term liabilities at US$3.4 billion.

Source: The Edge Markets July 19, 2021 09:00 UTC