Garuda Invests $25.8M in MRO; Citilink Targets Full Fleet Revival

Garuda Indonesia (GA, Jakarta Soekarno-Hatta) has participated in a rights issue by its subsidiary, PT Garuda Maintenance Facility Aero Asia Tbk (GMF AeroAsia), contributing IDR418.28 billion (USD25.8 million) through non-cash assets. Instead of cash, Garuda transferred three hangars, annex buildings, machinery, access roads, and other supporting facilities to GMF AeroAsia.

In exchange, Garuda will receive 9,093,245,600 Series B shares, each valued at IDR25 (USD0.0015), giving the shares a total nominal value of IDR227.33 billion (USD14 million), as disclosed in a January 3 filing with the Indonesia Stock Exchange (IDX). Garuda retains a majority stake of over 89% in GMF AeroAsia, a leading Southeast Asian maintenance, repair, and overhaul (MRO) provider that was listed in 2017.

Garuda stated that the transaction would enhance operational efficiency and maximize the strategic value of its assets by leveraging GMF AeroAsia’s specialized expertise.

Meanwhile, Garuda subsidiary Citilink (QG, Jakarta Soekarno-Hatta) plans to return its entire fleet to service by the end of 2025. Citilink President Director Dewa Kadek Rai announced efforts to reactivate 19 grounded aircraft, aiming for a fully operational fleet of 56 planes.

Currently, Citilink operates 75 routes to 49 destinations. The revived fleet is expected to increase flight frequencies and add new routes, particularly to underserved regions in eastern Indonesia.

Citilink’s fleet includes thirty-nine A320-200s, ten A320-200Ns, one A330-300, two A330-900Ns, eight ATR72-600s, and one B737-500. However, 22 aircraft remain inactive, including A320s, A320neos, and ATR72s.

Related News : https://airguide.info/?s=Airlines

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com