Jakarta, hitclubapk3 Indonesia
—
PT
Garuda Indonesia
(Persero) explained in detail the use of cash injections amounting to IDR 23.7 trillion received from BPI
Danantara
.
The injection consists of
shareholder loans
(SHL) US$405 million and cash capital participation of US$1 billion.
Garuda Indonesia Deputy Director Thomas Sugiarto said the fund allocation was focused on the most critical needs for the airline’s operational recovery.
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“We are focusing these funds on the most critical needs, namely repair and maintenance of Citilink aircraft by 47 percent or Rp. 11.2 trillion, and maintenance of Garuda Indonesia aircraft by 37 percent or Rp. 8.7 trillion,” said Thomas in a Hearing Meeting with Commission VI at the DPR RI Building, Monday (1/12).
Apart from that, funds were also allocated to fulfill Citilink’s energy obligations to Pertamina amounting to US$225 million.Where, the company does have a debt to the state-owned oil company.
“This figure was used as payment for Citilink’s debt to Pertamina,” he added.
Thomas emphasized that this funding support not only targets fleet recovery, but also strengthens the company’s capital structure.
Through this corporate action, the free float composition of public shares was maintained at the level of 8 percent.Meanwhile, the number of outstanding shares increased to 407 billion shares.The company’s authorized capital was also strengthened to IDR 100 trillion.
“The main objective is clearly to strengthen our equity and liquidity, ensure operational recovery runs more consistently, and increase the reliability of Garuda Indonesia’s fleet as a service,” said Thomas.
He emphasized that operational recovery is a priority amidst Garuda and Citilink’s efforts to increase aircraft utilization, service reliability and maintain financial stability after restructuring the company’s obligations.
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(ldy/sfr)
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