Loss Down to New Director

Jakarta

PT Garuda Indonesia (Persero) Tbk held the Annual General Meeting of Shareholders (AGMS) for Fiscal Year 2021. The event was held on Friday (12/8) which was attended or represented by 23,147,331,000 shares or 89.42% of the total shareholders.

In recent times, Garuda Indonesia has continued to show positive performance growth. One of these positive achievements was achieved through optimization cost structure and performance restructuring. During the last three months, the company created a positive performance in terms of operating income.

Gradually, Garuda Indonesia also increased flight frequency, especially on flight routes with positive performance. Until this August 2022 period, Garuda Indonesia also recorded a frequency growth of 32% compared to the June 2022 period. Garuda recorded an average frequency of 850 flights.

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Quoted from a written statement, Friday (12/8/2022), in the first quarter of 2022 Garuda Indonesia the group recorded a decrease in realized losses of up to US$ 224.14 million or Rp 3.2 trillion (exchange rate of Rp 14,700), down 42 percent compared to US$ 385.36 million in the first quarter of 2021. This achievement was achieved by a decrease in Garuda’s operating expenses in the first quarter of 2022 to US$ 526.34 million.

The bookkeeping of operating expenses was 25 percent lower than last year’s record operating expenses of US$ 702.17 million. The decrease in operating expenses was implemented in a number of expense lines such as flight operational costs, maintenance-repair, general-administration, airport expenses, passenger services, hotel operations, transportation, and networks.

The agenda for the 2021 AGMS approved a change in the composition of the Company’s management, by appointing Salman El Farisy as the new Director of Human Capital and honoring the dismissal of Aryaperwira Adileksana as Director of Human Capital for the period (2020-2022).

The composition of the Garuda Indonesia Board of Directors:

  • President Director: Irfan Setiaputra
  • Director of Finance and Risk Management: Prasetio
  • Director of Commerce and Services: Ade R. Susardi
  • Operations Director: Tumpal Manumpak Hutapea
  • Technical Director: Rahmat Hanafi
  • Human Capital Director: H. Salman El Farisy

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