PT Garuda Indonesia needs at least US$1 billion of additional funds to cut debt and stay afloat, as the government says it could give up its majority control of the troubled flag carrier, Bloomberg reports. Garuda is currently in talks with creditors to restructure US$6.3 billion worth of debt and expects to reach an agreement in the second quarter of 2022, according to Kartika Wirjoatmodjo, a Deputy Minister at Indonesia’s State-Owned Enterprises Ministry. The … [Read more...] about Cash-stripped Garuda Indonesia needs US$1b to stay flying
Garuda Indonesia
CargoFlash, EDIFly push encrypted messaging for air cargo
Software providers CargoFlash Infotech and Luxembourg-based EDIfly have teamed up to come up with an innovative solution for the aviation and logistics sector. CargoFlash has embedded EDIfly’s technology into its cloud-based platform to enable free, encrypted messaging for its air cargo management solutions. The technology adds an instant proof-of-delivery on CargoFlash communication exchanges through a digital signature, allowing complete process control for its business … [Read more...] about CargoFlash, EDIFly push encrypted messaging for air cargo
Indonesia’s biggest airport operator looks to cargo amidst slump
PT Angkasa Pura II, Indonesia’s largest airport operator, is pushing ahead with the construction of a new goods-handling facility in Jakarta, betting the movement of cargo will help an industry laid to waste by the reduction in passenger flights, Bloomberg reports. It’s calling upon third parties that are interested in investing alongside it to submit proposals in the fourth quarter. The total investment is “estimated to be 7.5 trillion to 8 trillion rupiah ($545 million),” President … [Read more...] about Indonesia’s biggest airport operator looks to cargo amidst slump
Garuda to fly to LAX or JFK from next year
Indonesian flag carrier Garuda Indonesia plans to re-operate its flight service to the US from next year targeting Los Angeles or New York, as two cities with highest potential market. This plan follows the announcement from the US Federal Aviation Administration (FAA) last month that Indonesia complies with International Civil Aviation Organisation (ICAO) safety standards and has been granted a Category 1 rating. With the International Aviation Safety Assessment (IASA) Category 1 rating, Garuda … [Read more...] about Garuda to fly to LAX or JFK from next year
Nepal Airlines courting Middle East carriers, could sell 51% stake
Nepal Airlines said it has held informal talks with a Middle East airline after the Nepalese government mandated it to find a “strategic partner,” its managing director said earlier this week. The state-owned carrier is in the midst of a turnaround, having recently brought in two A320 narrow body aircraft and with plans to bring in two A330 wide-bodies as it phases out its sole B757. Nepal Airlines currently operates two A320-200s, one B757-200, two DHC-6-300s, one MA-60 and one Y12 on … [Read more...] about Nepal Airlines courting Middle East carriers, could sell 51% stake
Garuda slips into loss in 1H, but cargo up 8%
Garuda Indonesia has returned to the red, posting US$63.2 million in losses in the January-June period of the year, compared with $29.3 million in profits it enjoyed in the corresponding period last year. The company’s revenue, meanwhile, fell by 4.1 per cent to $1.76 billion from $1.84 billion last year. Garuda Indonesia president director Arif Wibowo said various factors had contributed to the decline, including the deployment of new aircraft and global economic growth coming in below … [Read more...] about Garuda slips into loss in 1H, but cargo up 8%