Garuda Indonesia says to return two Boeing jets to lessor

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JAKARTA (Reuters) – Flag carrier Garuda Indonesia will return two Boeing (NYSE:BA) B737-800 jets to one of its lessors before their lease term ends as part of its efforts to improve its finances, the airline said in a statement on Monday.

Garuda will seek a suspension of debt payments to creditors and lessors under a ‘standstill agreement’ in order to avoid bankruptcy, as the coronavirus pandemic continues to hit its income, a senior government official said last week.