Garuda appoints lease mediator | News | Airfinance Journal

Garuda appoints lease mediator

Garuda Indonesia’s leasing disputes continue.

Airfinance Journal has learnt that Garuda Indonesia has appointed Somnath Guharoy to oversee and consult on its negotiations with its aircraft leasing companies.

Guharoy is the founder and key principal of Maximasia Consulting Associates.

Guharoy says he feels “privileged, particularly as a foreigner, to be given the responsibility as adviser to the CEO of the national airline Garuda Indonesia to support the team negotiating revised terms for its fleet in a market ravaged by the pandemic”.

State-controlled Garuda is under the remit of the SOE Ministry; the airline’s chief executive is Irfan Setiaputra.

Garuda has a number of unresolved leasing disputes, including one with Nordic Aviation Capital (NAC) over Bombardier-MHI CRJ1000 and ATR72-600 leases.

Other significant disagreements between Garuda and lessors, involve Goshawk’s Helice Leasing, SMBC Aviation Capital and Aercap.

Another lessor, CDB Aviation, recently cancelled an Airbus A330neo sale and leaseback deal with Garuda.

Indonesia's government has said that the state-controlled carrier has been overpaying for some aircraft leases for years.

Transaction SnapshotGaruda Indonesia | Sale leaseback | 12-19 | $252m (est.) | 3xA330neo

Financial Close:
19/12/2019
Value:
$252.00m USD
Full Details

Transaction SnapshotGaruda Indonesia | Convertible bond | 11-20 | IDR8.5tr

Financial Close:
28/11/2020
Value:
$603.93m USD
Full Details

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