Garuda's Total Debt Mounts to US$13.03 Billion in Q3 2021

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Vika Azkiya Dihni 18/05/2022 12:50 WIB

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PT Garuda Indonesia (Persero) Tbk (GIAA)'s total debt continues to mount. By the third quarter of 2021, the company had total debt reaching US$13.03 billion, a 25.7% increase.

Garuda Indonesia's Liabilities by Quarter (2017-2022)

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Garuda's Total Debt Mounts to US$13.03 Billion in Q3 2021

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Garuda Indonesia's Liabilities by Quarter (2017-2022)

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PT Garuda Indonesia (Persero) Tbk (GIAA)'s total debt continues to mount. By the third quarter of 2021, the company had a total debt of US$13.03 billion, a 25.7% increase from US$10.36 billion in the third quarter of 2020.

The details show Garuda Indonesia's short-term liabilities totaled US$5.28 billion. Long-term liabilities amounted to US$7.73 billion.

With this debt burden, Garuda Indonesia recorded a net loss of US$1.66 billion by the third quarter of 2021. This figure swelled from US$1.09 billion in the same period the previous year.

Operating expenses were recorded at US$1.98 billion, down 11.6%. The largest expenditures came from flight operating expenses at US$1.11 billion, maintenance and repair expenses at US$446.07 million, and general and administrative expenses at US$135.6 million.

The company recorded revenue of US$939.02 million in the third quarter of 2021. This amount decreased by 16.9% from the same period last year, which was US$1.13 billion.

For information, Garuda Indonesia has again applied for a 30-day extension of its debt payment suspension (PKPU), effective May 20th.

Before this extension request, the Garuda Indonesia PKPU process had already been extended for 60 days until May 20, 2022.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."