SkyTeam member Garuda Indonesia suffered greatly during the pandemic, including from government policies that banned most foreigners from coming to the country for an extended period of time. But it wasn’t Covid-19 that really did it in. They were forced to restructure $9.5 billion in debt earlier this year, citing in part “leasing costs way above the industry average” according to the country’s State Enterprises Minister. Unmentioned, of course, are the charges that were brought against the airline’s former CEO over money laundering and millions of dollars worth of bribery in connection with overpaying for Airbus aircraft. Such things are common in South and Southeast Asia, especially in connection with government-backed carriers. The airline has a new business model. They’re going to focus on domestic travel, and give up most international routes. That means reconfiguring…
