What challenges is the airline facing in terms of its fleet?
Garuda Indonesia May Halve Fleet in Major Restructuring
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The CEO addressed staff on May 19th, expressing a somber outlook. Gruters is adjusting its fleet size due to limited international travel, with only 41 of 142 aircraft operational because of unpaid leases. Garuda faces $4.9 billion in debt, increasing by $70 million monthly, and risks closure without restructuring.
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What could be the consequence of failing to execute a restructuring program?
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