Sign up | Log in



Home  >>   Daily News  >>   Indonesia  News  >>   Aviation  >>   Garuda targets IPO in maintenance sector
NEWS UPDATES Asean Affairs        29  March 2011

Garuda targets IPO in maintenance sector

Related Stories

February 22, 2011
AirAsia Indonesia looks at fourth-quarter IPO

November 26, 2010
AirAsia Indonesia to Surpass Malaysia Business

September 23, 2010
Indonesia delays Garuda's share sales until January 2011

August 31, 2010
Airport woes in Indonesia

April 29, 2010
Indonesia, Japan sign air transport deals

National flagship carrier Garuda Indonesia says it plans to float shares of its maintenance unit in the next few years as it tries to tap into the continuing fleet expansion of the domestic airline industry.

Elisa Lumbantoruan, Garuda’s finance director, said on Monday that huge potential already existed in the aircraft maintenance market, which would grow larger in line with Indonesian airlines.

“The maintenance market is around $750 million. Most of that is being tapped by foreign companies, compared to local companies’ market share, which is 20 percent of that,” he said.

He also said the airline planned to publicly list its maintenance unit, Garuda Maintenance Facility AeroAsia, in the next three to four years.

Garuda itself started its expansion program, dubbed the “quantum leap,” last year. The airline plans to double its fleet of aircraft to 150 planes by 2015.

Its rival, Lion Air, Indonesia’s biggest low-cost carrier, plans to have 178 Boeings flying by 2016, while the local unit of budget carrier AirAsia plans to add 10 more planes from next year through 2015, using proceeds from a planned initial public offering in the fourth quarter.

Emirsyah Satar, the president director of Garuda, said earlier this year that if domestic airline expansion met its projected target, the value of aircraft maintenance services could increase to $2 billion by 2014.

However, GMF’s unaudited profit dropped by 62 percent to Rp 22.1 billion ($2.5 million) in the first nine months of last year from the Rp 58.6 billion profit recorded a year earlier. Its revenue fell by 16.5 percent to Rp 1.06 trillion last year from Rp 1.27 trillion a year earlier.

GMF has three hangars at Soekarno-Hatta International Airport that can accommodate 25 aircraft at one time. It plans to add another hangar at an estimated cost of around $50 million to $60 million.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code


Today's  Stories    29  March 2011 Subsribe Now !
 • Garuda targets IPO in maintenance sector    
Subcribe: Asean Affairs Global Magazine
• Thai polyester producer plans new Indo investment Asean Affairs Premium
   • Mekong River Commission discloses proposed dam’s environmental impacts

   • Dairy prices rise in Malaysia

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

   • Philippines investment is not popular

• Toyota joins in Cambodin rice scheme


• Labor issues in Thailand’s growth model

• Vietnam promotes energy efficiency
Asean Analysis    29   March 2011 Advertise Your Brand
• Thailand’s silent majority Sponsor Our Events
Asean Stock Watch    29  March 2011
• Asean to open lower
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand