Garuda Maintenance Facility Strengthens Capital Structure with Major Land Transfer

Significant Asset Inbreng Transaction

PT Garuda Maintenance Facility Aero Asia Tbk (GMFI), the maintenance arm of Garuda Indonesia, has received a substantial land asset valued at Rp 5.6 trillion from PT Angkasa Pura Indonesia through an inbreng agreement. The land, measuring 972,123 square meters, is located in Soekarno-Hatta and has been transferred with Hak Guna Bangunan (HGB) status.

Strategic Implications for GMFI

This significant transaction serves multiple strategic purposes for GMFI:

1. Capital Structure Enhancement: The inbreng adds substantial value to GMFI's fixed assets, helping to restore positive equity
2. Cost Efficiency: Eliminates significant rental expenses previously burdening the company
3. Business Flexibility: Ownership provides greater flexibility in asset utilization and potential collaboration opportunities
4. Investor Confidence: Strengthens GMFI's financial position, potentially attracting future business partners or investors

Business Impact and Future Plans

GMFI's CEO, Andi Fahrurrozi, highlighted that the land ownership provides both certainty in asset management and greater flexibility for future business development. The company plans to leverage this asset to support potential joint development opportunities with partners or investors. The transaction also marks Angkasa Pura becoming a shareholder in GMFI, aligning their interests in the maintenance facility's growth.

Financial and Operational Benefits

The inbreng transaction significantly enhances GMFI's financial position by:

• Adding Rp 5.6 trillion in fixed assets
• Eliminating rental expenses
• Improving equity position
• Creating new business opportunities through asset utilization

This strategic move is expected to support GMFI's sustainability and growth in the aviation maintenance sector, while strengthening its relationship with both Garuda Indonesia and Angkasa Pura.