Garuda Indonesia Receives Significant Capital Injection

Strategic Financial Support

PT Garuda Indonesia (Persero) Tbk is set to receive a substantial Rp 23.67 trillion capital injection from Badan Pengelola Investasi (BPI) Daya Anagata Nusantara (Danantara) through PT Danantara Asset Management (Persero) ²

. This significant financial support comes through a Private Placement mechanism, specifically Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu (PMTHMETD).

Allocation of Funds

The capital injection is structured as Rp 17.02 trillion in cash contribution and Rp 6.65 trillion in shareholder loan conversion ²

. The funds will be strategically allocated: Rp 8.7 trillion (37%) will support Garuda Indonesia's working capital needs, including critical aircraft maintenance, while Rp 14.9 trillion (63%) will be directed towards Citilink's operations ²

Source 2

https://finance.detik.com/bursa-dan-valas/d-8210569/alasan-garuda-disuntik-rp-23-67-t-banyak-pesawat-tak-terbang

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Operational Priorities

1. Aircraft Maintenance: Addressing the maintenance backlog for grounded aircraft is a priority, as many Garuda and Citilink planes are currently not operational due to maintenance needs ¹
   Source 1

   https://finance.detik.com/bursa-dan-valas/d-8209638/danantara-suntik-garuda-rp-23-t-sebanyak-rp-14-t-buat-citilink
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2. Working Capital: The injection will strengthen both Garuda and Citilink's financial position, with Rp 11.2 trillion allocated for Citilink's working capital ²
   Source 2

   https://finance.detik.com/bursa-dan-valas/d-8210569/alasan-garuda-disuntik-rp-23-67-t-banyak-pesawat-tak-terbang
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3. Debt Settlement: Rp 3.7 trillion will be used to settle Citilink's fuel purchase obligations to Pertamina from 2019-2021 ²
   Source 2

   https://finance.detik.com/bursa-dan-valas/d-8210569/alasan-garuda-disuntik-rp-23-67-t-banyak-pesawat-tak-terbang
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Business Impact

This capital injection is expected to have multiple positive impacts on Garuda Indonesia Group:

• Strengthen capital structure
• Enhance operational capacity
• Accelerate transformation agenda
• Return consolidated equity to positive territory

As stated by Garuda Indonesia's CEO Glenny Kairupan, "This capital injection represents a significant milestone in Garuda Indonesia's recovery and transformation journey" ²

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