GMFI - PT. Garuda Maintenance Facility Aero Asia Tbk

Rp 64

0 (0%)

JAKARTA. PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) has prepared some strategies to help realising the revenue growth target of 50% in 2022, bringing the revenue up to USD 319 million.

Rian Fajar Isnaeni, VP Corporate Secretary & Legal of GMFI, claimed that these measures include mitigating the revenue decline. The company managed to expand its business into segments less affected by the pandemic. At the end of 2021, the company signed a working contract regarding the maintenance of a cargo aircraft C-130 of the national army, which is expected to be the beginning of other project opportunities.

The company also boosted the activities in the industrial gas turbine engine (IGTE) segment aggressively. “With the slowly-recovering aviation industry, the company has a chance to secure aircraft reactivation contracts so that we could go back up in the air after being grounded throughout the COVID-19 pandemi,” Isnaeni explained as quoted by Kontan yesterday (17/5).

According to Isnaeni, the performance in Q1 2022 indeed reflected recovery. EBITDA finally arrived at a positive number, while its debts shrank. The company also consistently applied efficiencies in all business segments in order to reduce costs. In Q1 2022, GMFI also obtained two new customers, Jindi South Jambi B Co Ltd from the IGTE segment and K-Mile Air from the air cargo segment. Furthermore, GMFI also has several cooperation contracts in the process, including building cabin interior items, power-by-the-hour (PBTH) line maintenance, and PBTH component services. (AM/ZH)