Garuda Indonesia MRO unit GMF AeroAsia targets revenue of $454 million and a net profit of $69 million for 2017.
The new target is an incremental increase on 2016’s full year results, which saw the MRO firm post revenue of $337 million, with a net profit of $55.6 million.
In a statement, GMF president and chief executive Juliandra Nurtjahjo says that being on target is “fundamental” to its aim of being one of the largest MROs globally by 2020.
As part of its expansion plan, GMF will look to focus growth at its Batam facility – a base it says it hopes to use to tap on nearby Singapore’s growth as an aviation hub.
The company adds that it is also “widely open towards an opportunity for partnership” to grow its Batam base.
“With strategic partnership and optimal support from [the] government, we [are] optimised for capacity enhancement in Batam and Eastern Indonesia, which could be done in 2017,” says Juliandra.
The focus on Batam comes after GMF called off a joint venture agreement with Bintan Aviation Investments (BAI) to set up a MRO facility at the Bintan Industrial Park, in April 2016.
“We took that decision because the memorandum of the agreement had expired, but no project had started yet,” explained Juliandra.
Former GMF president and chief executive Richard Budihadianto previously told FlightGlobal that the company was looking to establish a fifth hangar at Jakarta’s Soekarno-Hatta International airport by end-2016.
Though not larger than its latest “Hangar 4”, there were talks within the organisation to consolidate all its third-party work on widebodies there.
Source: Cirium Dashboard
