Garuda Opens Voice About Joining InJourney

Illustration (Photo: Doc. ANTARA)

JAKARTA - PT Garuda Indonesia (Persero) Tbk (GIAA) has opened its voice regarding the planned merger of companies or mergers to PT Aviasi Wisata Indonesia or the Aviation and Tourism Industry BUMN Holding, InJourney.

The Daily Executive of the President Director of Garuda Indonesia, Tumpal Manumpak Hutapea, explained that until now the discussion process related to the plan to merge the company under the auspices of InJourney is still ongoing intensively.

"The company is currently in the process of drafting studies and exploration of existing options, as well as intensive discussions with related parties," he said in an information disclosure of the Indonesia Stock Exchange (IDX) quoted on Tuesday, February 27.

Furthermore, Tumpal said the company views positively and supports the merger plan while still paying attention to the principle of prudence in carrying out its corporate actions.

"Of course (the merger plan) will be based on studies and assessments that are prudent to the company's business outlook," he said.

Tumpal also explained that Garuda Indonesia will continue to review various substantive aspects related to the plan to merge into InJourney with the Ministry of SOEs and other stakeholders.

"This is in line with the goals of the Ministry of SOEs in an effort to strengthen the national air transportation industry ecosystem towards an increasingly competitive industry," he explained.

Tumpal also ensured that there was no material information related to the merger plan that could affect the company's survival or affect Garuda Indonesia's share price.

"The company will pay attention to the provisions of the applicable laws and regulations, especially in the capital market sector," he said.

Previously, Deputy Minister of BUMN Kartika Wirjoatmodjo said Garuda Indonesia would join under InJourney. The target is that the merger can be carried out this year.

Furthermore, he said Garuda had completed the restructuring. Dis said, if the company's financial statements are good, the merger can be carried out.

"This year (the plan to merge Garuda Indonesia to InJourney," he said when met at Putri Duyung Ancol's Ballroom, Jakarta, Monday, February 19.