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GMF – Citilink Agree on Aircraft Component Partnership Cooperation

Jakarta, June 6, 2018 – PT Garuda Maintenance Facility Aero Asia Tbk. (GMF, code issuer: GMFI) and PT Citilink Indonesia (Citilink) agree on the cooperation contract of Component Pooling for Citilink Airbus A320 aircraft (6/6). Located in Jakarta, the signing was conducted by GMF President & CEO Iwan Joeniarto and Citilink President & CEO Juliandra Nurtjahjo.

According to GMF President & CEO Iwan Joeniarto, the synergy between two Garuda Indonesia Group entities is a form of GMF commitment to continuously improve service to Citilink as one of its Key Account Customer. “We are grateful that GMF has succeeded in taking Citilink’s Component Services Business after adding our component workshop capabilities. Previously, the work for Citilink is done by aircraft maintenance service provider outside Garuda Indonesia Group affiliation,” Iwan added. He also said that the cooperation with the Component Pooling scheme includes the supply of 800 Component Part Numbers for 18 Citilink A320 aircraft with a term of 5 years.

On the same occasion, President & CEO of Citilink, Juliandra Nurtjahjo welcomed this synergy. He said that GMF current capability becomes a warranty for the sustainability of Citilink’s operations to run optimally. “We appreciate the improvement shown by GMF in developing its capability as a world-class MRO particularly in this Component Pooling. In accordance with Good Corporate Governance we also conduct a review of GMF as our aircraft maintenance service provider and GMF has met the needs so we are confident to give this component pooling business to GMF. Juliandra further added that they must ensure that service level agreement component availability must be better than previous service providers that has an impact to Citilink’s On Time Performance (OTP).

GMF President & CEO Iwan Joeniarto also said that this cooperation is the initial component maintenance work with Component Pooling scheme for GMF. This work is also a window for GMF to be able to offer its products to other airlines, both coming from domestic and abroad. In this initial cooperation, GMF is projected to book revenue of US $ 1.6 Million per year. The number will continue to grow along with the addition of coverage part numbers and Citilink fleet. Iwan assured that GMF will provide added value for Citilink and other customers in this Component Pooling business. “This component pooling scheme can provide efficiency to the airlines,” he said. Iwan also said that Citilink as a 4 star low cost carrier (LCC) could be a business window of GMF in the development of its business. “We believe Citilink’s portfolio will also make GMF achieves a good track record in the global MRO industry.

In the future we are indeed trying to reach the larger component maintenance market outside Garuda Indonesia Group,” Iwan said. He added that in 2018 GMF is planning to continue to increase the capability of its targeted 120 part numbers for various types of aircraft until the end of the year. “This is in line with the start of business focus to the maintenance of component and engine, in addition to airframe maintenance which becomes GMF supremacy,” Iwan lid.