Erick Thohir Prepares Plans to Improve Garuda Indonesia (GIAA)

Minister of State-Owned Enterprises (SOEs) Erick Thohir has formulated plans to boost the business performance of PT Garuda Indonesia Tbk (GIAA).

IDXChannel - Minister of State-Owned Enterprises (SOEs) Erick Thohir has formulated plans to boost the business performance of PT Garuda Indonesia Tbk (GIAA).

In the future, a number of foreign investors may cooperate with the state-owned airline.

The investors are airline companies from a number of countries such as Qatar Airways, Emirates, and Singapore Airlines.

"Garuda may cooperate with global airlines that can provide Indonesian people  more access to international flights," Erick said when met at his office recently, quoted by IDX Channel on Friday (26/5/2023).

According to him, cooperating with global airlines is a realistic option for Garuda. Erick doesn't want Garuda to repeat the same mistakes in the past.

Garuda's aggressive move to develop international routes was not optimal and actually harmed the company. From the start, Erick wanted Garuda to focus on the country's domestic market.

"Garuda itself focuses on domestic flights," he said.

In addition to cooperating with global airlines, Erick revealed Garuda could also collaborate with the Indonesia Investment Authority (INA). However, Erick did not reveal the detailed partnership plan.

"Garuda is looking for strategic partners, one of which is INA, " he concluded. (WHY)