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Danantara Injects IDR 1.2 T, Here Is The Response From The Boss Of Garuda Indonesia (GIAA)

Garuda Indonesia (GIAA) is said to be getting a capital injection of IDR 1.2 trillion. The tactical funds will flow from Danantara. The capital injection is important to support the operations of the state-owned aviation issuer. 

Responding to the rumor, Garuda Indonesia management spoke up. "We can say that in principle the policies and strategies for the corporate action are entirely the authority of the shareholders and related stakeholders," said Wamildan Tsani, President Director of Garuda Indonesia. 

Garuda Indonesia regularly coordinates with the government and other related stakeholders. "This is done while remaining focused on ensuring that the company is on track in accordance with the company's performance strategy," he added. 

Following the issue, Garuda Indonesia's shares on the Indonesia Stock Exchange (IDX) immediately soared. In just the last five days, Garuda's shares have soared 16.67 percent to IDR 42. A surplus of 6 points from the start of trading on Wednesday, May 14, 2025 at the level of IDR 36. 

Throughout the first quarter of 2025, Garuda Indonesia suffered a loss of USD76.48 million. A decrease of 12 percent from the same period last year minus USD87.03 million. Total operating income of USD723.56 million, a surplus of 1.62 percent from the same position last year of USD711.98 million. This consists of scheduled flights of USD603.68 million, up from USD599.01 million. Unscheduled flights of USD37.95 million, up from USD19.67 million. Others of USD81.92 million, down from USD93.28 million. 

Total operating expenses of USD718.35 million, up from USD702.92 million. Includes flight operational expenses of USD361.96 million, down from USD371.07 million. Maintenance and repair expenses of USD156.19 million, up from USD123.86 million. Airport expenses of USD54.05 million, down from USD54.79 million. 

General and administrative expenses of USD47.81 million, down from USD48.52 million. Passenger service expenses of USD49.61 million, up from USD43.91 million. Ticket, sales, and promotion expenses of USD40.14 million, down from USD51.86 million. Hotel operating expenses of USD4.48 million, down from the previous USD4.82 million. 

Transportation operating expenses of USD2.9 million, down from USD2.89 million. Network operating expenses of USD1.17 million, up from USD1.16 million. Foreign exchange gain of USD12.82 million, up from USD7.84 million. Financial income of USD3.35 million, a surplus of USD1.68 million. Financial expenses of USD124.56 million, up from USD119.88 million. 

Total equity minus USD1.43 billion, up from the end of 2024 of USD1.35 billion. Deficit of USD3.58 billion, up from USD3.5 billion. Total liabilities were USD7.88 billion, down from the end of last year of USD7.97 billion. Total assets were USD6.45 billion, down from the end of 2024 of USD6.61 billion. 

Tag: Garuda Indonesia GIAA Indonesia