JAKARTA -- Garuda Indonesia will seek suspension of debt payments in an attempt to avoid going bankrupt, an official at the country's Ministry of State Owned Enterprises said on Thursday.
Kartika Wirjoatmodjo, deputy minister for state-owned enterprises, told a parliamentary hearing that the airline and the government have "appointed legal consultants and financial consultants to start this process" and that it is "imperative to immediately implement a moratorium or standstill [of debt payments] in the near future."
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