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GMF and IAS Has Agreed on Aircraft and Industrial Services Cooperation

Jakarta, January 9, 2019 PT Garuda Maintenance Facility Aero Asia Tbk. (“GMF”, Issuer Code: “GMFI”) has agreed on Master Cooperation Agreement with a BUMN subsidiary, PT Indopelita Aircraft Services (IAS). Agreement with this Pelita Air Service’s subsidiary owned by PT Pertamina (Persero) provides partnership in aircraft and industrial services maintenance. This represents a synergy of capability and capacity of each state-owned entity. GMF’s President Director, Iwan Joeniarto, and IAS’ President Director, Sabar Sundarelawan, signed this contract at GMF’s Hangar 4 in Tangerang on January 9, 2019. Its scope includes strategic cooperation in aircraft maintenance and industrial services, joint facility utilization including provision of new facilities also expertise and proficiency exchange between the two companies.

On this occasion, Iwan said that this corporate action was a strategic step to increase GMF’s capability and capacity. “Partnering with IAS is a quick step to strengthen our position in the aviation industry. IAS has hangar facilities we can utilize to accommodate steadily increasing aircraft maintenance capacity,” Iwan explained. GMF and IAS also partnered in capacity and capability development of GMF’s Industrial Gas Turbine Engine (IGTE) workshop. “IGTE has a promising market; therefore, GMF and IAS work simultaneously to reinforce IGTE maintenance. Initially, we will develop IGTE owned by IAS holding company,” said Iwan.

Meanwhile, Sabar Sundarelawan said that this cooperation yield mutual benefits. Each party has unique advantage that, when combined, can bring greater benefits. Also, this will increase customer confidence in the services we provide and improve the competitiveness and performance of each company,” he added. Partnership became one of GMF’s focuses in 2019. Market demands require GMF to constantly increase capacity and capability shortly. Iwan stated that they offer wide opportunity to partner for business development, including BUMN companies. “We do not shut ourselves from partnership program and collaboration with BUMN companies, which is performed with good corporate governance. Partnership is an accelerated step to advance business to achieve the vision of becoming Top 10 MRO in the world,” he concluded.