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Bloomberg
Struggling airline PT Garuda Indonesia is facing a delay to its restructuring after creditors cited Covid-19 flare ups in seeking an extension to debt proceedings in the Southeast Asian country.
Creditors of the flag carrier, which has seen business suffer due to the pandemic, have requested extensions ranging from 45 to 60 days, according to Jandri Siadari, a legally-appointed administrator.
Garuda has also applied for an extension, and the court will decide on Friday whether the postponement can be granted.
The creditors come from a range of countries. Brigitta Rahayoe, who represents a claimant in India, said that given lockdowns there “we are having difficulties obtaining duly legalized power of attorney.â€
State airport operator PT Angkasa Pura I wants the deadline prolonged by 45 days.
While countries around the world have responded to the omicron coronavirus variant by tightening restrictions, social distancing rules haven’t been as strict as they were in early 2020, with even legal proceedings put on ice.