- Business
- PT. Garuda Indonesia (Persero) Tbk operates as Indonesia's flag carrier airline, providing scheduled and non-scheduled commercial air transportation for domestic and international passengers, cargo, and mail; aircraft repair, maintenance, and overhaul services; computerized reservation systems; hotel, catering, air transportation, travel agent, aircraft rental, and ground handling services; as well as ticket sales. The company serves 72 domestic and 24 international destinations across Asia, Australia, and Europe from hubs in Jakarta, Denpasar, Makassar, and Medan, utilizing a fleet of approximately 140 aircraft including Boeing 777-300ER, Airbus A330, Boeing 737-800, and Boeing 737 MAX 8 models, with operations supported by low-cost subsidiary Citilink Indonesia. Founded in 1949 and headquartered at Soekarno-Hatta International Airport in Tangerang near Jakarta, Indonesia, it functions through segments including Flight Operations, Aircraft Maintenance Services, and Other Operations, targeting leisure, business, and pilgrimage travelers with a focus on Indonesian hospitality. In recent developments, Garuda Indonesia plans to raise $1.4 billion through a private placement of 315.6 billion series D shares priced at Rp 75 each to state asset fund Danantara, allocating 37% to working capital and operations such as aircraft maintenance and 63% to Citilink for cash flow enhancement and repayment of $225 million debt to Pertamina, with the move approved by the SOEs Regulatory Agency and President Prabowo Subianto ahead of a November 2025 shareholders meeting. Additionally, the company strengthened its partnership with Singapore Airlines in August 2025 by launching joint sales of fare products, expanding codeshare routes to include Bengaluru, Kolkata, Delhi, and Male from Singapore Airlines alongside Garuda destinations like Labuan Bajo, Lombok, and Manado, introducing reciprocal lounge access for frequent flyer members, and increasing flight frequencies between Jakarta and Singapore to seven daily services.