“Shanghai is already being boosted, as well as Europe through Singapore and they can support us in 2016,” he said.
This year, according to Minister of State Own Enterprises Rini Soemarno, the shareholders had decided to add a cargo director position to the board, which will be filled by Sigit Muhartono.
In 2015, Garuda booked net profit US$77,97 million, increasing 121,1 percent compared to the last year a negative of $368,9 million and revenues $3.81 billion. Meanwhile, Garuda’s operating expenses decreased by 15,8 percents in from $4,33 million to $3.62 million.
In line with the ongoing network expansion, Garuda Indonesia Group successfully transported 32.961.022 passengers, an increase of 13,1 percent from a total of 29.130.277 in 2014. Meanwhile, cargo reached 351,741 increased from 176, 123 tons last year.
The flight frequency of Garuda Indonesia, both the domestic and international routes, reached 259.088 flights, increased by 9,5 percent compared to the same period last year from 228.329 flights. Meanwhile, the availability seat kilometers (ASK) has increased by 3,4 from 50,15 to 51,86.
Similarly, Seat Load Factor/SLF in the first semester of 2016 improved to 77,2 percent compared to 71.8 percent in the same period of last year. On Time Performance (OTP) reached 88.0 percent, while aircraft utilisation reached 09:01 hour.
In 2015 Garuda Indonesia commanded 43 percent of domestic market share, a noticeable increase from 38 percent last year. International market share has also increased to 27 percent from 23 percent in the same period of 2014.
Up to December 2015, Garuda Indonesia Group (inclucing Citilink) operates a total of 187 aircraft consisteing of 154 narrow body aircraft (Boeing 737-800 NG, Airbus A330-200/300, Boeing 737-300, Boeing 737-500, CRJ 1ooo and ATR 72-600) and 33 wide body aircrafts (Boeing 777-300ER, Airbus A330-300 & 200 and Boeing 737-500, CRJ 1000 and B747) By the end of 2015, Garuda Indonesia will operate a total of 190 aircraft with an average fleet age of 4.3 years.
Arif said, UK Export Finance‘s expressed loan offer worth $1 billion for Garuda’s business expansions. The company is in the process of a $2.5-billion fleet acquisition plan as it looks to add 50 new aircraft to replace its older fleet. The airline needs to replace 92 older planes by 2022, said a senior official. Garuda is looking at bond issuance, export credit agency debt and cash reserves to fund the buying programme.
On Annual General Shareholder’s Meeting of Garuda Indonesia on March 15, shareholders approves the replacement of Garuda Indonesia’s board of directors, namely Handayani, I Gusti Ngurah Agung Heriyanto Askhara Danadiputra, and Heriyanto Agung Putra and appointing the new formations of Garuda Indonesia’s Board of Director.
The new organizational structure of Garuda Indonesia’s Board of Director decided on the Annual General Shareholders Meeting as follows:
1. M. Arif Wibowo (President & CEO)
2. Iwan Joeniarto (Director)
3. Novianto Herupratomo (Director)
4. Nicodemus Panarung Lampe (Director)
5. Sigit Muhartono (Director)
6. Helmi Imam Satriyono (Director)
7. Linggarsari Suharso (Director)
8. Agus Toni Soetirto (Director)
Meanwhile, the New organizational structure of Garuda Indonesia’s Board of Commissioners decided on the Annual General Shareholders Meeting as follows:
1. Jusman Syafii Djamal (President of Commisioner)
2. Hasan M. Soedjono (Independent Commisioner)
3. Isa Rachmatarwata (Commisioner)
4. Muzaffar Ismail (Commisioner)
5. Dony Oskaria (Commisioner)
6. Chairal Tanjung (Commisioner)