.JPG)
.JPG)
Jakarta, June 30, 2025 The Extraordinary General Meeting of Shareholders (EGMS) of PT Garuda Indonesia (Persero) Tbk (“Garuda Indonesia”) held on Monday (6/30), and attended or represented by 67,957,218,062 shares or 74.29 percent of the total shareholders, has granted strategic approval for the company’s performance recovery restructuring agenda. This approval marks a significant milestone in strengthening Garuda Indonesia’s comprehensive transformation direction.
During the Extraordinary General Meeting of Shareholders (EGMS), shareholders also approved changes to the company’s management structure. This step aims to reinforce the leadership team in accelerating the transformation momentum in the medium to long term. The changes in the board of directors are aligned with the company’s need to remain adaptive to the increasingly competitive aviation industry landscape.
As part of the Extraordinary General Meeting of Shareholders (EGMS) agenda and based on a proposal by the Ministry of State-Owned Enterprises of the Republic of Indonesia (BUMN RI), the meeting approved the appointment of Eksitarino Irianto as Director of Human Capital & Corporate Service, Reza Aulia Hakim as Director of Commercial, Dani Haikal Irawan as Director of Operation, Mukhtaris as Director of Maintenance, and Mawardi Yahya as Independent Commissioner.
Garuda Indonesia also respectfully discharged the following individuals from their positions. Enny Kristiani (Director of Human Capital & Corporate Service), Ade R. Susardi (Director of Commercial), Tumpal Manumpak Hutapea (Director of Operation), Rahmat Hanafi (Director of Maintenance), Prasetio (Director of Finance and Risk Management), and Timur Sukirno (Independent Commissioner).
Accordingly, the composition of the Board of Commissioners and Board of Directors of Garuda Indonesia as stipulated in the 2025 EGMS resolution is as follows:
Board of Commissioners of PT Garuda Indonesia (Persero) Tbk
President Commissioner and Independent Commissioner: Fadjar Prasetyo
Commissioner: Glenny Kairupan
Commissioner: Chairal Tanjung
Independent Commissioner: Mawardi Yahya
Board of Directors of PT Garuda Indonesia (Persero) Tbk
President & CEO: Wamildan Tsani Panjaitan
Director of Operation: Dani Haikal Irawan
Director of Commercial: Reza Aulia Hakim
Director of Maintenance: Mukhtaris
Director of Human Capital & Corporate Service: Eksitarino Irianto
On behalf of all employees of Garuda Indonesia, President & CEO Garuda Indonesia, Wamildan Tsani expressed his appreciation for the contributions of the board members who have completed their terms. “My deepest gratitude and highest appreciation to the directors who have concluded their service. You have laid a strong foundation for Garuda Indonesia’s restructuring process and the recovery of the company’s performance that we continue to pursue together.”
The appointment of recent management members from internally the company, reflects Garuda Indonesia’s commitment to ensuring leadership continuity. “The presence of young talents from within the Garuda Indonesia Group is a source of pride, as it demonstrates the readiness of Garuda Indonesia’s people to become key drivers in shaping the company’s direction and carrying out long-term transformation,” Wamildan stated.
Performance Recovery Restructuring as a Business Performance Accelerator
The performance recovery restructuring approved by shareholders at this Extraordinary General Meeting of Shareholders (EGMS) includes fundamental steps to strengthen the financial structure and performance management. This will be achieved through a focus on equity improvement, strategic initiatives such as fleet restoration, addition of production assets, business performance recovery of subsidiaries, and the acceleration of passenger traffic recovery. These restructuring efforts are part of a comprehensive performance transformation program to drive Garuda Indonesia’s complete turnaround.
This performance recovery restructuring represents a continuation of the performance rescue restructuring phase conducted between 2021 and 2023, which focused on rescuing the company through liability management, fleet composition restructuring, and operational cost management. Through the rescue restructuring scheme implemented since 2022, Garuda Indonesia successfully reduced liabilities, improved equity value, and optimized various operational aspects.
As part of its long-term performance strategy, Garuda Indonesia will implement 11 priority measures to transform its business. In terms of fleet and network, the Garuda Indonesia Group targets a gradual fleet expansion to around 120 aircraft and aims to add at least 100 new routes by 2029.
During the same period, the company will also strengthen its aviation support ecosystem, foster collaboration across all business lines, accelerate digitalization, and enhance the overall customer experience.
Full Government Support & Performance Recovery Efforts On Track
Furthermore, Garuda Indonesia’s performance in the first quarter of 2025 continues to show positive results, reflecting optimism about the airline’s future potential. This positive achievement is largely driven by a 92.88% increase in revenue from the charter segment— non-scheduled flights—compared to the same period last year.
Additionally, consolidated operating revenue as of March 31, 2025, rose by 1.63% to USD 723.56 million compared to the same period the previous year. Operationally, throughout Q1 2025, the Garuda Indonesia Group transported 5.13 million passengers—comprising 2.65 million passengers by Garuda Indonesia and 2.48 million by Citilink.
“The shareholder approval granted at today’s EGMS marks a turning point for Garuda Indonesia and serves as a key foundation in our journey to become a healthy, competitive, and world-class airline. We are confident that with full support from the Government and all shareholders, the company will be able to deliver its best performance, strengthen its presence among the public, and become a source of national pride for Indonesia on the global stage,” Wamildan concluded.
PT GARUDA INDONESIA (PERSERO) TBK
CORPORATE SECRETARY
Kontak Media: