Garuda reveals debts of $480M, but can’t dodge $19M cartel fine yet

Appeals 2019-08-09 5:18 pm By Miklos Bolza | Sydney

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Indonesian airline Garuda has failed in its bid to stay a $19 million penalty for its role in a fuel surcharge cartel after telling the Federal Court it has debts of $480 million, with a judge saying he would be allowing the company to trade while insolvent if he granted the stay.

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