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GMFI IDR 79 Updated : 27 Oct 2020 16:19
PT Garuda Maintenance Facility Aero Asia Tbk. (GMF) together with Garuda Indonesia Group booked cooperation agreement worth USD 2.4 billion at Singapore Airshow 2018 which lasted for 6 days, February 6 to 11 2018
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Singapore, February 12, 2018 – PT Garuda Maintenance Facility Aero Asia Tbk. (GMF) together with Garuda Indonesia Group booked cooperation agreement worth USD 2.4 billion at Singapore Airshow 2018 which lasted for 6 days, February 6 to 11 2018. GMF President & CEO Iwan Joeniarto said that in the Singapore Airshow 2018, the target to establish several cooperation agreements with strategic partners in developing their business expansion plan has been successful. Iwan said that the portion of income earned worth USD 1.7 Billion comes from aircraft maintenance revenue from affiliated airlines and some partnership in accordance with what was presented in the prospectus when GMF was listed in stock exchange last October 2017, while the remaining USD 700 Million is a new contract. "As a public company, we strive to keep our promises. We have signed cooperation for expansion in the Middle East region and also Australia in this event. Partners have made an agreement with us and we will be discus to prepare the operation," said Iwan. Iwan also added that the expansion area was chosen because it  has a high potential market, especially in line maintenance.