Garuda Indonesia wins the court case in Paris against Avenue Capital

Garuda Indonesia has won a lawsuit against two aircraft lessors Greylag 1410 and Greylag 1446, in Paris. The judge ruled in favour of Garuda Indonesia by ordering to release the funds in frozen account with the leasing companies paying compensation. Greylag Goose Leasing 1410 and Greylag Goose Leasing 1446 are special purpose vehicles (SPV) under Avenue Capital Aircraft Holdings. Greylag SPVs launched a legal case against Garuda Indonesia in an attempt to derail Garuda’s restructuring process and have the airline declared insolvent. In 2013, Greylag Goose Leasing 1410 leased an A330-200 to Garuda, while Greylag Goose Leasing 1436 leased an A330-300.