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T GMF AeroAsia, a subsidiary of national flag carrier Garuda Indonesia, says its revenue will rise 30 percent in 2013, after it secured several aircraft maintenance contracts.

The company will provide maintenance, repair or overhaul services [MRO] to Zimbabwe’s Avient Aviation, Afghanistan’s KAM Air, India’s Jet Airways and domestic low cost carrier Mandala Airlines starting next year, GMF executive vice president for base operations Agus Sulistyono said at the fifth Indo Defence 2012 Expo & Forum in at the JIExpo in Jakarta on Thursday.

“With more customers, we are confident of boosting our business next year. It also shows that GMF has world-class capabilities to deliver MRO services,” Agus said after signing a maintenance agreement with Mandala Airlines.

Agus said that GMF has been certified by the European Aviation Safety Agency (EASA) and the US Federal Aviation Administration (FAA), and predicted that the new agreements would increase the company’s revenues from US$205 million in 2012 to $266.5 million in 2013.

“By looking at our [revenue] position today, we believe that we can reach our target of booking $205 million in revenue by the end of this year,” Agus said.

The firm also has plans to expand its business maintaining Boeing and Airbus aircraft in Southeast Asian, Latin American and African nation next year.

“Classic Boeings from the B737 series are still being used in Latin America and Africa. We see a huge potential to grab that market,” Agus said.

On Mandala, Agus said that the firm is expected to book $1 million revenue over the next three years to maintain the airline’s fleet of Airbus A320 aircraft.

In addition, to accommodate growing demand, GMF is set to spend $50 million to build its fourth hangar near Soekarno-Hatta International Airport in Cengkareng, Banten, outside of Jakarta.

The set up of the new hangar is also meant to keep pace with Garuda’s expanding fleet. The Garuda Group will operate 294 aircraft with an average fleet age of five years by the end of 2015.

Expansion of its fleet is part of Garuda’s Quantum Leap program, where Garuda plans to operate 194 aircraft while another 100 aircraft, including 50 turboprop planes, will be operated by its strategic business unit, Citilink Indonesia.

Lion Air and Sriwijaya Air have also used GMF’s hangars. Lion, for example, will need hangars to maintain its fleet of 178 aircraft by the end of 2016.

Hangar 4 will be constructed on an 18,000 square meters near the airport and be equipped with a purpose-built docking platform for C-Check or the heavy maintenance of narrow-body aircraft, such as those of the Boeing B737 family.