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Garuda's annual net loss of $2.4 billion last year was its biggest since at least 2005 and company executives said in June that it is still losing around $100 million a month.    © AFP/Jiji
Business Spotlight

Indonesia's state airline Garuda hangs by a financial thread

With the government reluctant to stump up rescue funds, airline's restructuring is fraught with difficulty

SHOTARO TANI, Nikkei staff writer | Indonesia

TOKYO -- Indonesia's government is under mounting pressure to resolve the financial crisis at the nation's flagship airline, which faces an existential threat from COVID-19 after years of chaotic management and weak earnings.

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