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Jakarta Post

Garuda accepts decision over 'incorrect' financial statement

  • Made Anthony Iswara and Riska Rahman

    The Jakarta Post

Jakarta   /   Mon, July 1, 2019   /  11:41 am
The Jakarta Post Image
A cargo plane of Garuda Indonesia. The airline has been fined Rp 100 million ($7,080) by the Financial Services Authority (OJK) for publishing a misleading financial statement.(Courtesy of/

National flag carrier Garuda Indonesia has lowered its guard after previously defending its 2018 financial report, which according to the Finance Ministry and the Financial Services Authority (OJK) contains “incorrect” financial statements. “We fully respect the decision and will follow it up to the best of our ability. Garuda Indonesia will also communicate and ask for advice from decisionmakers in regard to what the company can do to adhere to the decision,” said Garuda Indonesia president director Ari Askhara as quoted by the airline’s press release on Sunday. The government’s orders would not affect the airline’s financial condition as cash flow would remain positive, he was quoted as saying by Antara. His statements came after the government ordered the airline to restate its 2018 financial statement and annual report last Friday, with...