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Jakarta Post

Weathering the storm within Garuda Indonesia

  • Harya S. Dillon and Ibrahim Kholilul Rohman

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PREMIUM
Jakarta   /   Thu, January 30, 2020   /  11:09 am
Weathering the storm within Garuda Indonesia New aircraft, new CEO: Luxury cars line up in the GMF hangar to welcome Garuda Indonesia’s newly arrived Airbus A330-900 Neo at Soekarno-Hatta International Airport in Tangerang, Banten. The national flag carrier has a new chief executive officer and a new chief commissioner. They both bear the responsibility for restoring the company’s tarnished credibility. (JP/Dhoni Setiawan)

Following months of violent turbulence, the winds of change cannot come soon enough to Garuda Indonesia Airlines. After showing Gusti Ngurah Ari Askhara the door over an alleged Harley-Davidson smuggling last December, the publicly listed national flag-carrier took off last week with Irfan Setiaputra, a seasoned corporate executive, as its new president director and Triawan Munaf, the former head of the Creative Economy Agency, as chairman of the board of commissioners. State-Owned Enterprises (SOEs) Minister Erick Thohir made it clear that the first order of business for the new management would be to restore good corporate governance and the company’s image. Garuda went through some jolting turbulence year last year. In June, the Financial Service Authority caught the company window-dressing its 2018 financial statements. The carrier was later fined and forced by regulators...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.