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January 9, 2025 | 02:55 pm
TEMPO.CO, Jakarta - PT Garuda Indonesia (Persero) Tbk (GIAA) has publicly confirmed its ongoing exploration of a potential corporate action involving a merger with Pelita Air, a subsidiary of PT Pertamina. Garuda Indonesia's management emphasized that this merger plan is still in the early stages of discussion.
“Regarding the steps to explore this corporate action, it is still in the initial stages of discussions with relevant parties,” said Garuda Indonesia's management in an official disclosure published on the Indonesia Stock Exchange website on Thursday, January 9, 2025.
The company has indicated that it is preparing an initial study and is discussing with key stakeholders, particularly the Ministry of State-Owned Enterprises (SOEs) as the primary shareholder of Garuda Indonesia. This initiative, according to management, aims to optimize various business opportunities and strengthen the ecosystem of the air transportation industry.
“[This move] is intended to bolster the air transportation industry's business ecosystem in Indonesia, and thus deliver sustainable benefits to the community,” the management added.
Furthermore, the management has committed to conveying the progress of this merger plan. They have stated that no significant developments have transpired thus far.
“We will convey any progress related to the various stages or the eventual realization of this strategic plan,” the management assured.
Garuda Indonesia's management expressed confidence that this potential merger will have a positive impact on the company's future prospects. Moreover, they reiterated the company's support for this strategic initiative. “[This strategic decision] will be based on a comprehensive and prudent assessment of the company's business outlook and performance," the management concluded.
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