The majority of the company’s shareholders approved of Garuda’s fleet expansion program in view of the promising market growth in the domestic and regional sectors. The approval was given during the Garuda Indonesia Extraordinary General Shareholders’ Meeting which took place on Friday, February 3, 2012, in the Auditorium of the Garuda Indonesia Management Building, Soekarno – Hatta International Airport, Cengkareng – Jakarta.

The new proposal for the airline’s fleet development until 2016 specified the number of additional aircraft as follows:

• Boeing 737-800NG, from 10 units was increased to 20 units
• Boeing 777-300ER 10 units
• A330-200 or other types of the Airbus family, from 6 units was increased to 24 units
• Narrow-body aircraft for Citilink, from 5 unit was increased to 25 units
• Sub-100 type aircraft, from 5 units was increased to 18 units.

Thanks to the above program, by 2015 Garuda will operate as many as 194 aircraft, consisting of twenty-four A330s, nine B777s, eighty-five B737-800NGs, fifty A320 for Citilink, twenty-five sub-100s, and three cargo freighters. Previously, the Quantum Leap program had targeted a fleet growth of 154 aircraft by the end of 2015.

Garuda’s fleet development was initiated to anticipate significant growth of passengers in both the domestic and international markets. It is also part of the Company’s ongoing efficiency program. The new arrivals will feature modern, fuel efficient and eco-friendly as well as low-maintenance planes.

Also in the Meeting’s agenda was the election of Betti Setiastuti Alisjahbana to the Board of Commissioners, as Independent Commissioner. She will officially begin her duties from the closing of the Garuda Indonesia Extraordinary General Shareholders’ Meeting until the closing of the Fifth Garuda Indonesia General Shareholders’ Meeting.

With the election of Betti Setiastuti Alisjahbana as Independent Commissioner, Garuda Indonesia now has six commissioners, including Betti Setiastuti Alisjahbana, replacing Adi Rahman Adiwoso, as Independent Commissioner and Abdulgani. The Garuda Indonesia Extraordinary General Shareholders’ Meeting also appointed Adi Rahman Adiwoso, formerly an Independent Commissioner, to the Board of Commissioners. He will continue his duties until the annual Garuda Indonesia General Shareholders’ Meeting in 2012.

Following the structural change of the Board of Commissioners, the current members of the Garuda Indonesia Board of Commissioners is as follows:

1. Hadiyanto (President Commissioner)
2. Abdulgani (Independent Commissioner)
3. Sahala Lumban Gaol (Commissioner)
4. Wendy Aritenang Yazid (Commissioner)
5. Adi Rahman Adiwoso (Commissioner)
6. Betti Setiastuti Alisjahbana (Independent Commissioner)

Meanwhile, the Meeting did not affect any change in the Board of Directors.

Furthermore, the Meeting also approved of the implementation of the Minister of State-Owned Enterprise Regulation No. PER-01/MBU/2011 on the implementation of Good Corporate Governance (State-Owned Enterprises Ministerial Regulation No. 1/2011) at Garuda Indonesia. The company has essentially complied with the provisions regulated in the State-Owned Enterprises Ministerial Regulation No. 1/2011 in light of the fact that the above provisions are also regulated in the Limited Liability Company Act, Capital Market Act and other regulations that are relevant with Garuda.

The Garuda Indonesia Extraordinary General Shareholders’ Meeting was attended by around 250 shareholders or their representatives whose names are listed in the Company’s List of Shareholders on 18 January 2012 (until 16.00 WIB) and owns the Company’s shares at the sub exchange account of PT Kustodian Sentral Efek Indonesia (KSEI) at the end of the trading session at the Indonesian Stock Exchange on January 18, 2012.

The Garuda Indonesia Extraordinary General Shareholders’ Meeting was announced on January 4, 2012 and official summons were submitted on January 19, 2012 in three (3) local newspapers (two Indonesian papers and one English language) in accordance to Garuda’s Statutes and to prevailing conditions and regulations in the Capital Market.

Jakarta, February 3, 2012

PT. GARUDA INDONESIA (Persero) Tbk.
VP CORPORATE COMMUNICATIONS

PUJOBROTO