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Garuda Indonesia creditors approve airline's restructuring proposal

Result seen as crucial for state airline to reorganize huge debt and stay aloft

Garuda Indonesia's court process began late in 2021 and was originally to take 45 days to resolve, but negotiations have been repeatedly extended.   © AP
ISMI DAMAYANTI and NANA SHIBATA, Nikkei staff writers | Indonesia

JAKARTA -- Garuda Indonesia won overwhelming approval from creditors on Friday for its make-or-break restructuring proposal that staved off bankruptcy for the country's oldest airline.

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