Cengkareng (TheInsiderStories) – Government has picked I Gusti Ngurah Askhara Danadiputra  as a new chief executive of PT Garuda Indonesia Tbk (IDX: GIAA), replacing Pahala N. Mansury who served since April 2017.

State-owned Enterprises Minister Rini Soemarno explained, the reason for the removal of Merit inseparable from factors of each individual expertise in their respective fields.
Another reason, is also on the operational performance seen over the past year and the challenges ahead.
“So, all of our analysis in total, in order to improve the performance of SOEs, cooperation between commissioners and directors,” he told the media in Soehana Hall, Jakarta on Wednesday (12/09).
In addition, the 2018 extraordinary shareholder meeting also dismissed Jusman Sfafi’i Djamal as President Commissioner and appointed Agus Santoso as the new Garuda Indonesia President and Independent Commissioner.
Previously, Ari Askhara has been also in the board of directors of Garuda, as the Chief Financial Officer and Risk Director, during the era of President Director Arif Wibowo.
Recorded from 2013 to 2018, Ari has occupied the position of director at four different companies. In 2013, he served as Head of Natural Resources ANZ, and then move on as Chief Financial & Risk in Garuda.
In addition, Ari also served as Director of Human Capital and Development of PT Wijaya Karya Tbk. Recently, he served as chief executive of PT Pelabuhan Indonesia III.

Garuda Indonesia’s new board of directors:

1. President Director: I Gusti Ngurah Askhara Danadiputra
2. Commercial Director: Pikri Ilham Kurniansyah
3. Director of Cargo & Business Development: Muhammad Iqbal
4. Director of Finance & Risk Management: Fuad Rizal
5. Director of Human Capital: Heri Akhyar
6. Operations Director: Bambang Adisurya Angkasa
7. Technical Director: I Wayan Susena
8. Director of Services: Nicodemus Panarung Lampe

Board of Commissioners :

1. President / Independent Commissioner: Agus Santoso
2. Independent Commissioner: Ismerda Lebang
3. Independent Commissioner: Herbert Timbo P. Siahaan
4. Commissioner: Muzaffar Ismail
5. Commissioner: Doni Oskaria
6. Commissioner: Chairul Tanjung
7. Commissioner: Luky Alfirman

In order to strengthen the financial and operational performance of the company on an ongoing basis, Garuda Indonesia along with its subsidiaries in early 2018 launched a long-term business strategy called Garuda Indonesia Group (Sky Beyond 3.5) – which would be a value-driven aviation group with a Garuda Indonesia group valuation of US$3.5 Billion by 2020.

In the first half (1H) 2018 the fligh carrier operator managed to record operating revenue of $1.9 billion with a growth of 5.9 percent compared to the same period last year of $1.8 billion.

In 1H Garuda recorded an increase in the number of passenger carried by 8.3 percent with passenger transport as much as 18.7 million passengers. Meanwhile, the cargo carried also increased by 2.7 percent to 225 thousand tons. Garuda Indonesia’s on time performance (OTP) as main brand reached 89 percent or increased compared to the record of OTP achievement in the same period last year of 85.8 percent.

This positive growth in the 1H 2018 was also supported by the achievement of an increase in subsidiary income (subsidaries & strategic business units) of 28.4 percent. In addition, the company also continues to consistently improve the performance of cargo revenues which in H1 / 2018 grew by 7.6 percent to USD 124.5 million.

In line with the airline business model differentiation development strategy, in 1H  2018 the company also recorded an increase in ancillary revenue by 27.5 percent to $46.3 million compared to the same period last year.

Meanwhile through the efforts of Garuda Indonesia Group to maximize the potential of the low cost carrier (LCC) market, PT Citilink Indonesia managed to record passenger growth of up to 25.6 percent to 7 million passengers in 1H 2018, a significant increase from passenger transport in 1H 2017 of 5.6 million passengers.

Throughout the first semester the company also developed a flight network by opening a number of new routes.

Email: linda.silaen@theinsiderstories.com

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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