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Creditors gave Garuda Indonesia the go ahead on a plan to restructure liabilities worth 142.4t rupiah ($9.6b), giving the carrier more financial headroom as it seeks to capitalize on the rebound in international travel. More than the required two-thirds of creditors agreed to the plan—under which Garuda will issue roughly $800m of new debt—in a vote in Jakarta court on Friday. The result is set to receive an official stamp of approval on June 20. Friday’s vote means the state-backed carrier can proceed with the rights issue to raise additional funds that Kartika Wirjoatmodjo, a Deputy Minister of State-Owned Enterprises, already announced. Like many airlines, Garuda’s business suffered due to the pandemic and the carrier entered a court-supervised debt restructuring process late last year. the carrier’s fleet is now just a fraction of what it was before the Covid-19 outbreak, limiting its ability to generate more revenue. According to the restructuring plan presented on June 9, holders of the airline’s dollar sukuk would get another sukuk with a 6.5% return. Other terms would apply for banks and lessors. Boeing isn’t part of the Jakarta restructuring process, but the carrier says it owes the planemaker around $822 million, according to Garuda’s President Director Irfan Setiaputra. That will affect the total amount of new debt issued. Indonesia’s flag carrier will gradually bring the number of aircraft in operation to 70 for both domestic and international routes, Setiaputra told reporters without naming a time frame. That’s more than twice the number operating earlier this year.<br/>

Korean Air is expanding its private jet business, introducing an additional B787-8 Dreamliner. Korean Air introduced the B787-8 business jet on June 10th, increasing the number of private business aircraft to four. The 787-8 is manufactured by Boeing of the United States. Unlike regular airplanes, the Dreamliner is modified for luxury purposes with seating greatly reduced and convenient facilities such as a private living room, bar, and bedroom. The aircraft was manufactured in February 2015 and has 39 seats. The airplane departs from the Seoul Gimpo Business Aviation Center (SGBAC), a business-only terminal. Users can go through immigration procedures in 5 minutes and can use the VIP lounge, crew lounge, and meeting rooms. In particular, the 787-8 is a large aircraft capable of traveling from Korea to all parts of the US directly. The luxury jets are leased to VVIPs including CEOs and celebrities. Korean Air is expanding its private jet business targeting the government and leading domestic and foreign companies. There were speculations that Samsung, which doesn't operate a private aircraft, will lease the B787-8 aircraft, unlike Hyundai Motor Company, SK, and Hanwha, which have their own private jets. "We have introduced the plane, but the plane's use is undecided," a Korean Air spokesman said.<br/>