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Jakarta Post

GMF Aero Asia looks to expand into overseas markets

  • Riza Roidila Mufti

    The Jakarta Post

Jakarta   /   Fri, March 15, 2019   /   06:10 pm
GMF Aero Asia looks to expand into overseas markets PT Garuda Maintenance Facility Aero Asia (GMF) president director Iwan Joeniarto. (Antara/Muhammad Adimaja)

Aircraft maintenance company PT Garuda Maintenance Facility (GMF) Aero Asia sees huge potential in markets outside Indonesia to grow its maintenance, repair and overhaul (MRO) business.   

GMF Aero Asia president director Iwan Joeniarto said recently that the company was targeting new markets like India, South Korea, Japan, Vietnam and Russia as well as countries in the Middle East.

India presented a great opportunity for GMF to expand because the company already had many clients from the country, Iwan said, adding that countries in the Middle East also offered lucrative markets for the subsidiary of national flag carrier Garuda Indonesia.

“We plan to collaborate with local partners [in the Middle East] to establish maintenance facilities there,” he said.

Iwan said GMF targeted countries like Japan and South Korea as they had enjoyed rapid growth in the aviation industry, but lacked MRO facilities. He added that GMF was also eyeing Vietnam and the Philippines as new markets.

“For instance in Vietnam, the aviation industry is growing very fast. Orders for aircraft are very high, but are not balanced with enough MRO facilities,” he said, adding that Russia also lacked MRO facilities.

GMF Aero Asia offers aircraft maintenance services including base maintenance, engineering, line maintenance, cabin maintenance, engine maintenance and much more. 

The company recorded US$470 million in revenue in 2018, up from $439.3 million in 2017. This year, GMF eyes $500 million in revenue. (bbn)