Garuda’s Fate amid Financial Turbulence

Summary

PT Garuda Indonesia Tbk (GIAA) will lay off 700 contract workers on November 1. Some of them had been on unpaid leave since May 2020.

Garuda took the decision due to the unbearable impact of financial difficulties caused by the coronavirus pandemic. "It is the outcome of the significant demand decline in the flight services during the pandemic," the president-director of Garuda Indonesia, Irfan Everyutra, revealed in an official statement on Tuesday (10/27). Garuda will still terminate their contracts, despite receiving Rp 8.5 trillion worth of bailout from the government.

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