\TANGERANG - Chief Operating Officer (COO) of the Danantara Investment Management Agency (BPI), Dony Oskaria opened his voice regarding the decline in capital increase to PT Garuda Indonesia (Persero) Tbk. The current capital injection is in accordance with needs.
For your information, at the Garuda Indonesia Extraordinary General Meeting of Shareholders (EGMS) on Wednesday, November 12, Danantara officially poured Rp23.67 through additional capital without giving pre-emptive rights (PMTHMETD). This figure is down compared to the initial plan of Rp30.72 trillion.
Furthermore, Dony also said that the injection of funds given to Garuda Indonesia amounting to Rp. 23.6 trillion had gone through a comprehensive and mature calculation.
"Currently what is needed is sufficient. So we will increase our capital," Dony said at a press conference at the Garuda Center Operations, Tangerang, Banten, Thursday, November 13.
Dony said, in injecting this capital, Danantara did not only look at the value side, but also considered the restructuring process within Garuda Indonesia. Starting from the operational and financial side.
"We don't see the other number in the numbers. But how is a comprehensive process than turnaround and consolidation," he said.
Dony emphasized that Garuda Indonesia's financial restructuring is a priority for the Danantara. Therefore, the injection of capital into the state-owned airline is one of the options in the financial restructuring process.
Furthermore, Dony explained that the injection of funds given to Garuda Indonesia would be used to return disturbing planes to pay off the debts of Citilink Indonesia's subsidiaries for the purchase of Pertamina's avtur.
"We hope that in the future Garuda Indonesia will become a healthy company, in this transformation process," he said.
Previously reported, PT Garuda Indonesia (Persero) Tbk received an additional capital of IDR 23.67 trillion from PT Danantara Asset Management (Persero) or DAM. The decision was approved at the Garuda Indonesia Extraordinary General Meeting of Shareholders (EGMS).
The EGMS was held at the Auditorium of the Garuda Indonesia Management Building, Tangerang on Wednesday, November 12, 2025. The meeting was attended by shareholders representing 75.88 percent of the total shares or around 69.42 billion shares.
SEE ALSO:
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RUPSLB Garuda Indonesia Setujui Tambahan Modal Rp23,67 Triliun dari Danantara
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10 November 2025, 22:03
The additional capital consists of cash payments of IDR 17.02 trillion and debt conversion of shareholders' loans of IDR 6.65 trillion through the mechanism for Capital Increase without Pre-emptive Rights (PMTHMETD).
Of the total Rp23.67 trillion, around Rp8.7 trillion or 37 percent will be allocated for Garuda Indonesia's working capital needs, including aircraft maintenance and maintenance. Meanwhile, Rp14.9 trillion or 63 percent will support Citilink's operations.
The details consist of Rp11.2 trillion for working capital and Rp3.7 trillion for payment of fuel purchase obligations to Pertamina for the 2019-2021 period.
The capital participation was carried out through the issuance of 315,610,920,000 Series D shares with an exercise price of Rp75 per share, as approved in the EGMS.
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