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Garuda Indonesia told by regulator to fix 2018 results

Government pressure thought to have led to state-owned carrier's unusual revenue

The accounting error relates to the carrier's contract with Mahata Aero Teknologi, a local company, under which a Wi-Fi connection service will be made available on all Garuda planes.   © Reuters

JAKARTA -- Indonesia's financial authorities have told Garuda Indonesia, the country's state-owned flagship carrier, to "fix and restate" its 2018 results within 14 days due to accounting errors, and have also frozen the license of the accountant that audited Garuda's results.

The Financial Services Authority, or OJK, said Garuda as a company and its directors would be fined 100 million rupiah each. Additional fines will also be imposed on directors and commissioners who signed off the 2018 results.

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