JAKARTA, INDONESIA Garuda Indonesia is bargaining the terms of its aircraft orders with Airbus and Boeing. The cancellation of the orders are among the options.

The airline's revenues have been hit hard during the pandemic. The company was forced to launch a major restructuring seeking to reduce its debt to $3.7 billion from $9.8 billion.

Garuda is undergoing debt restructuring proceedings, known locally as PKPU, after a vendor petitioned a Jakarta court over unpaid liabilities.

Indonesian operator has nine Airbus A330-900 jets and four Airbus A330-800s on order with the European planemaker.

The carrier had previously said that it would cancel the remaining orders of Boeing 737 MAX 8 following fatal crashes of the type in Ethiopia and Indonesia.

Garuda ordered 50 737 MAX 8s in 2014, valued $4.9 billion at that time, and had only received one unit, in 2017.

The airline has said it would return more planes as it seeks to scale down its fleet to 66 from 142 before the pandemic.