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M. Arif Wibowo Continues to Lead Garuda Indonesia with The New Formations of BoD

Cengkareng, April 15th, 2016 – Annual General Shareholder’s Meeting of PT Garuda Indonesia Tbk. (Perseo) appointed new formation of Board of Directors Garuda Indonesia which will be led by M. Arif Wibowo as a President & CEO. The assignmet of new formation of Garuda Indonesia’s BoD will continue and accelerate positive growth and business expansion of the flag carrier.

"We sincerely extend our apreciation to our formers directors for the company’s ongoing achievement and strong foundations. Furthermore, Management felt the need to accelerate business amid global pressure situations like this,”. said President Director of Garuda Indonesia M. Arif Wibowo Friday , after the Annual General Meeting.

Following the decision of the 8th Annual General Shareholder’s Meeting, shareholders approves the replacement of Garuda Indonesia’s board of directors, namely Handayani, I Gusti Ngurah Agung Heriyanto Askhara Danadiputra, and Heriyanto Agung Putra and appointing the new formations of Garuda Indonesia’s Board of Director.

The new organizational structure of Garuda Indonesia’s Board of Director decided on the Annual General Shareholders Meeting as follows:

1. M. Arif Wibowo (President & CEO)
2. Iwan Joeniarto (Director)
3. Novianto Herupratomo  (Director)
4. Nicodemus Panarung Lampe  (Director)
5. Sigit Muhartono   (Director)
6. Helmi Imam Satriyono   (Director)
7. Linggarsari Suharso   (Director)
8. Agus Toni Soetirto   (Director)

Meanwhile, the New organizational structure of Garuda Indonesia’s Board of Commissioners decided on the Annual General Shareholders Meeting as follows:

1. Jusman Syafii Djamal (President of Commisioner)
2. Hasan M. Soedjono (Independent Commisioner)
3. Isa Rachmatarwata  (Commisioner)
4. Muzaffar Ismail  (Commisioner)
5. Dony Oskaria  (Commisioner)
6. Chairal Tanjung  (Commisioner)

According to the agenda, the Annual General Shareholder’s Meeting approved eight points of issue, comprising:

  1. To approve and adopt the Annual Report of the company for 2015, including the Company’s Financial Statements of the Partnership and Environmental Development Program and the Board of Commissioner’s Supervisory Report per 31 December 2015;
  2. To determine the utilization of the net profit from financial year 2015;
  3. To determine Directors and Commissioners’ bonuses (tantieme) for 205, saleries, honorariums, and other benefit payable to the members of Board of Directors and Board of Commissioners of the company in financial year of 2015;
  4. To appoint Independent Auditor to audit Company’s Financial Statement for financial years ended 2016 and the Financial Statements of the Partnership and Environmental Development Program for 2016;
  5. To approve delegation of authority to Board of Commissioners to increase the Company’s issued capital as part of the implementation of the Management and Employee Stock Option Plan (MESOP) program;
  6. To report the utilization of Net Proceeds Report from Initial Public Offering and the Right Issue;
  7. To announce the implementation of Ministry of State Owned Enterprises Regulation No. PER-09/MBU/07/2015 dated 3 July 2015 regarding the Partnership and Environmental Development Program;
  8. Boards of Directors Replacement


2015 Performance :
Garuda Indonesia Books USD 79 Million

In 2015, Garuda Indonesia has successfully booked USD 77,97 million net profit increasing 121,1 percent compared to the last period of last year a negative of USD 368,9 million.

This performance is successfully achieved through various initiatives of the airline called “Quick Wins” program as well as continously efficiency strategy.

In 2015, Garuda Indonesia booked USD 3.81 million operating revenue compared to USD 3.93 in the same period of 2014. Meanwhile, Garuda’s operating expenses decreased by 15,8 percents in from USD 4,33 million to USD 3.62 million. In line with the ongoing network expansion, Garuda Indonesia Group successfully tansported 32.961.022 passengers, an increase of 13,1 percent from a total of 29.130.277 in 2014. Meanwhile, cargo reached 351,741 increased from 176, 123 tons last year.

The flight frequency of Garuda Indonesia, both the domestic and international routes, reached 259.088 flights, increased by 9,5 percent compared to the same period last year from 228.329 flights. Meanwhile, the availability seat kilometers (ASK) has increased by 3,4 from 50,15 to 51,86.

Similarly, Seat Load Factor/SLF in the first semester of 2016 improved to 5,4 percent (77,2 percentcompared to 71.8 percent in the same period of last year. On Time Performance (OTP) reached 88.0 percent, while aircraft utilisation reached 09:01 hour.

Apart from that, Garuda Indonesia has also successfully increased its domestic and international market share. In 2015 Garuda Indonesia commanded 43 percent of domestic market share, a noticeable increase from 38 percent last year. International market share has also increased to 27 percent from 23 percent in the same period of 2014.

Up to December 2015, Garuda Indonesia Group (inclucing Citilink) operates a total of 187 aircraft consisteing of 154 narrow body aircraft (Boeing 737-800 NG, Airbus A330-200/300, Boeing 737-300, Boeing 737-500, CRJ 1ooo and ATR 72-600) and 33 wide body aircrafts (Boeing 777-300ER, Airbus A330-300 & 200 and Boeing 737-500, CRJ 1000 and B747) By the end of 2015, Garuda Indonesia will operate a total of 190 aircraft with an average fleet age of 4.3 years.

Jakarta, 15 April 2016

VP Corporate Communications



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