JAKARTA (TheInsiderStories) - PT Garuda Indonesia Tbk has long been prepared one of its subsidiary PT Garuda Maintenance Facility to float its shares on the Indonesian Stock Exchange. On Monday, President Director of Garuda Indonesia, the national flag carrier, Arif Wibowo said the initial public offering (IPO) of GMF is pending on the approval of shareholder, namely the government.
Garuda, he said, has asked the board of GMF to make preparations, including strengthen the company’s fundamentals. “We hope to float 20% of the company’s shares, but we are still awaiting for the aspiration of the shareholder,” Arif said. GMF is the country’s largest aircraft maintenance, reparation and overhaul (MRO) player, operating MRO facilities at the international airport Soekarno-Hatta.
At present, it offers services not only to Garuda Indonesia but also to other aircraft owned by national and international airline operators. (*)