ER
PT GARUDA Maintenance Facility Aero Asia Tbk (GMFI) is aiming for a revenue target of US$377 million and a net profit of US$15 million throughout 2023.
This achievement target is in line with the promising prospects of the airline engine maintenance business. Throughout 2023, the Company carried out a lot of engine maintenance, especially to support the reactivation program of the Garuda Indonesia Group.
In addition, there are also several jobs from non-group customers, both from domestic and regional airlines. Until mid-June 2023, the engine segment is the second largest revenue contributor after airframe.
According to Rian Fajar Isnaeni, GMFI’s VP Corporate Secretary & Legal, said that until semester 1 of 2023, GMF has also held cooperation contracts with several domestic airlines such as Garuda Indonesia Group, especially for aircraft engine maintenance and Indonesia AirAsia for line maintenance.
In addition, the company also holds cooperation contracts with foreign airlines such as Air Atlanta Europe, Diamond Aviation, IndiGo, Aircastle Advisor, Avolon Aerospace Leasing, Aerotranscargo, Martinair Holland, Japan Airlines, T’Way Air and Cebu Air.
“In the business diversification step, GMF has also strengthened cooperation with the Indonesian Air Force for maintenance of military transport aircraft and also continued penetration of the Industrial Gas Turbine Engine sector through cooperation with Pupuk Kalimantan Timur,” Rian said as quoted by kontan.co.id, Wednesday (8/02), 2023.
Rian sees that in GMF’s future business development plan, the company will continue to adjust to market needs and the company’s internal conditions. In accordance with GMF’s grand strategy, the company’s current focus is developing businesses in areas with high profitability.
To increase business value, several business segments will also be collaborated with partners. So that GMFI will continue to make business diversification efforts in the non-commercial aviation segment.
In terms of capital expenditure or capex allocation, GMFI will focus these funds on maintaining existing capability and supporting operational performance, whether buying new or replacing obsolete tools.
“This year the allocation for capex needs is US$3.9 million, with the realization of submissions reaching almost 100% up to the second quarter of 2023,” concluded Rian. [kontan.co.id/photo special]
