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Aeroflot does not see the need for new borrowing in the near future after creating a safety cushion ahead of the autumn season, CFO Andrey Chikhanchin said. "At the moment, we have about 100b roubles ($1.39b) in debt (excluding lease payments), while the account balances are quite large. The debt is mostly secured by the account balances," Chikhanchin said. The airline has 24 billion roubles of undrawn loans under state guarantees in reserve, Chikhanchin said. It has not experienced difficulty financing its activities during the summer but secured liquidity ahead of the traditionally difficult autumn season, he said. Aeroflot placed exchange-traded bonds amounting to 24.65b roubles at a rate of 8.35% in June, having initially planned to raise 15bat 9.15%.<br/>

Garuda Indonesia is targeting to complete its restructuring within the year but did not commit to a timeline for the process or further steps to pay off its debts. In a 25 June filing to the Indonesia stock exchange (IDX), the flag carrier addressed questions from the exchange on the details and timeline of its restructuring, saying that it “targets [that the] restructuring process can be completed in 2021”. Garuda declined to offer further details on the timeline for the process until it has finalised the restructuring plan. It also adds that it “has not yet decided the path [it will take] to resolve its debt”. Garuda has debt amounting to Rp70t ($4.9b), which is forecast to continue growing by Rp1t each month amid the pandemic, a House of Representatives member told Indonesia’s parliament on 3 June. Garuda says that controlling shareholder, the Ministry of State Owned Enterprises, has “[committed its] full support for [Garuda’s] debt restructuring process through [the] establishment of the company’s restructuring acceleration team”. The team was formed to handle the airline’s negotiations with lessors.<br/>