Global Market Expansion, GMFI Aims For European And Asian Consumers Next Year

Illustration (Photo: Doc Antara)

JAKARTA - A subsidiary of Garuda Indonesia engaged in aircraft maintenance, PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) is targeting the expansion of global customers such as Eastern, Middle Eastern and Central Asian airlines next year.

GMFI President Director Andi Fahrurrozi said that one of his company's focuses next year is to add customers from overseas airlines to come and carry out maintenance in the hangar managed by GMFI.

"We are indeed targeting global markets, especially in the region. So in the Asian region and also the Middle East. In addition, we also continue to look for customers in Eastern Europe and Central Asia," he said in a virtual press conference, Monday, October 28.

Andi said his company would optimize looking for customers to come to Jakarta, rather than building hangars abroad.

"So if the market is global, we are now more focused on how to bring these planes in for the maintenance of their planes to Jakarta, to GIMF. So we are not the ones who are targeting hangars abroad, but in 2025 we will focus more on how to add customers from abroad to come to Indonesia," he said.

Currently, continued Andi, GMFI manages four hangars located in Cengkareng, Tangerang, Banten. Where, 70 percent of GMFI customers are dominated by airlines outside the Garuda Indonesia Group.

The details are hangar 1 for weight body, hangar 2 for plane maintenance, hanger 3 for weight body Airbus 330, and hanger 4 for narrow body.

"Because until now, for airframe or for hangars, 70 percent of our customers are outside the group. So that's how we can increase that portion, how to bring the global market into Indonesia," he said.

In order to realize the global customer expansion target, Andi said GMFI plans to conduct a rights issue or additional capital by granting pre-emptive rights (PMHMETD).

This additional capital will be carried out by issuing Series B Shares, which aim to strengthen the capital structure and strengthen the Company's equity position.

Through the Extraordinary General Meeting of Shareholders (EGMS) which was held today, it was agreed to issue as many as 11.7 billion new Series B shares with a nominal value of IDR 25 per share.

In addition, said Andi, PT Garuda Indonesia (Persero) Tbk as the main shareholder of GMFI also took part with a portion of 89.1 percent of the issued shares through non-cash capital participation or inbreng.

"With the support of additional non-cash capital from PT Garuda Indonesia (Persero) Tbk in the form of fixed assets worth IDR 418 billion," he said.

According to Andi, with the right issue, GMFI will have better flexibility in asset management and utilization, especially those related to Maintenance, Repair, and Overhaul (MRO) activities, to ensure compliance with applicable regulations.

Meanwhile, GMFI plans to conduct a rights issue or PMHMETD at the end of the year or December 2024.