GIAA Shares Released From Suspensi, Garuda IndonesiaOSak Gas Strengthening Fundamental Performance

President Director of Garuda Indonesia Irfan Setiaputra. (Photo: Doc. Antara)

The temporary suspension of trading or the suspension of shares of PT Garuda Indonesia (Persero) Tbk (GIAA) has been officially opened by the Indonesia Stock Exchange (IDX). As of today.

The decision refers to the IDX announcement with the number PENG-UPT-001/BEI.PP2/01-2023.

President Director of Garuda Indonesia, Irfan Setiaputra, said that the lifting of the stock suspension on the GIAA effect was a follow-up to the completion of the company's performance restructuring stage at the close of 2022, mainly related to the issuance of the New Sukuk restructuring instrument.

"Resmily retrading GIAA shares on the stock exchange, of course, we hope it can provide optimal value for all shareholders, especially with positive stock performance in line with the company's market outlook amid the growth of passenger demand in 2023," he told reporters, Tuesday, January 3.

The opening of the GIAA stock suspension at the beginning of the 2023 performance year, said Irfan, became a positive outlook for the company's steps to continue accelerating the strengthening of the Company's performance fundamentals.

"With the increasingly solid business performance foundation which is also supported by an increasingly lean and adaptive cost structure after the restructuring, we are optimistic that the company can maximize the momentum of the revival of business performance," he said.

One of them, said Irfan, is by strengthening the opportunity for passenger growth which continues to show promising potential in 2023.

"Especially with the revocation of PPKM status which was announced by the Government at the end of last year," he said.

In line with the revocation of this stock suspension, said Irfan, the company projects that it will maximize a number of outlooks for corporate strategic plans, including through the addition of production equipment capacity.

"In 2023, the company targets to operate at least 66 fleets outside the fleet of six fleets," he said.

In addition, Irfan said the company will also continue to maximize its strategic hub-based network development strategy, by strengthening flight connectivity to flight destinations with high passenger demand from a number of strategic flight hubs in Indonesia including Jakarta, Denpasar, Makassar to Kualanamu (Medan).

"We also optimize these efforts by maximizing the operation of large-bodied aircraft on flight routes with positive performance," he explained.

Maskimalkan Pasar Umrah dan Kargo

Irfan said, Garuda Indonesia will also continue to maximize the growth of the Umrah market as a promising market share.

"By maximizing the accessibility of direct Umrah flight services from a number of major cities in Indonesia to the holy land," said Irfan.

Furthermore, continued Irfan, the cargo business line will also continue to be accelerated by helping to maximize the growth momentum of the national export sector.

"This commitment will be strengthened by developing a cargo flight network for both charter and scheduled flights in support of direct call activities to various national export destinations," said Irfan.

Irfan is optimistic that 2023 will be Garuda's momentum to transform into an increasingly agile, adaptive and competitive business entity and of course continue to prioritize the focus of business performance profitability.