Danantara chief operating officer (COO) Dony Oskaria expressed confidence that the multifaceted restructuring of Garuda’s finances and operations would place the airline on stable financial footing.

“Next year, Garuda Indonesia [is expected to] post profits, so that we will enter a healthy phase, and this is especially true with the management led by Pak Glenny,” he said at the Garuda Indonesia headquarters in Jakarta on Wednesday, as reported by Kumparan, referring to Glenny Kairupan, the company’s president director.

He outlined four primary pillars of the transformation strategy for the Garuda Indonesia Group, which operates Indonesia’s flag carrier Garuda Indonesia as well as low-cost airline Citilink.

The first and most critical is a financial transformation focused on improving the company's capital structure, repaying outstanding debts and “strengthening its equity base”.

“Together with Danantara, we will improve the quality of all our state-owned companies, which we hope will become profitable companies while also practicing good corporate governance,” Dony said, as Kumparan reported.

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Detailing the financial overhaul, Dony revealed several strategic steps, including a plan to transfer land assets from state-owned airport operator Angkasa Pura to Garuda's maintenance, repair and overhaul (MRO) unit, GMF AeroAsia, to bolster its equity.

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