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GMFI IDR 79 -1.00 Updated : 23 Oct 2020 16:19
PT Garuda Maintenance Facility AeroAsia Tbk (GMF) recorded revenue of 334.7 MUSD or increase of 7.8% in the same quarter of previous year
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Tangerang, October 31 2018 – PT Garuda Maintenance Facility AeroAsia Tbk (GMF) recorded  revenue of 334.7 MUSD or increase of 7.8% in the same quarter of previous year. This revenue was followed by the recorded net profit of 27 MUSD. This revenue was supported by Repair & Overhaul sector which increased by 14.1%, where a shift in business concentration was started by GMF. GMF President & CEO, Iwan Joeniarto said in the third quarter, the number of aircraft engine maintenance event had increased significantly by 24% to 102 events. "The shifting in the business focus has an influence on the position of business margin that affects to the net profit," Iwan said. Furthermore, GMF achieved maximum result from the operational side. GMF's Turn Around Time reached 100%, Fulfillment of Service Level to its customers reached almost perfect numbers of 99.6% and the number of maintenance events increased 18% from the same quarter of 2017. On the other hand, GMF managed to increase revenue from nongroup affiliates with the ratio of 43.3% compared to 56.7%, while the ratio of the previous year was 34.7%: 65.3%.