GMF AeroAsia Reports US$6.76 Million Profit in Q1 2026, Up 78.28 Percent

JAKARTA, Jakartaweekly.com — PT Garuda Maintenance Facility Aero Asia Tbk (GMF) reported significant performance growth in the first quarter of 2026, recording a net profit of US$6.76 million, up 78.28 percent from US$3.79 million in the same period last year.

The profit increase was driven by the company’s revenue growth, which reached US$114.94 million by the end of March 2026, marking a 20.53 percent rise from US$95.36 million in Q1 2025.

GMF President Director Andi Fahrurrozi said the achievement reflects the effectiveness of the company’s ongoing business transformation strategy and capability enhancement efforts.

“The growth in profit and revenue at the beginning of this year reflects GMF’s increasingly solid business strengthening momentum. In addition to higher maintenance activity, this achievement also demonstrates GMF’s growing competitiveness in meeting the needs of both domestic and international aviation industries,” Andi said in a statement on Friday, May 8, 2026.

Throughout the first three months of 2026, GMF recorded several strategic milestones, including the successful completion of its first independently conducted full overhaul of a Citilink CFM56-5B engine, supported by Danantara funding.

He said the achievement marks an important step in improving the serviceability of the Garuda Indonesia Group fleet while strengthening national engineering capabilities.

In the international market, GMF also expanded its customer base by adding new airline clients from South Korea, namely Airzeta and T-Way. The company also completed several global projects, including the overhaul of Korean Air’s A330 aircraft and a landing gear replacement project for Fiji Airways.

Beyond the aviation sector, GMF continued expanding its business diversification through non-aviation projects, including the normalization of PLN Batam’s PLTG MPP Balai Pungut TM2500 #3.

The company’s commitment to maintaining global service standards was further reinforced through new certifications from aviation authorities in New Zealand and Aruba, expanding GMF’s international service coverage.

From a financial structure perspective, GMF’s total equity increased to US$140.58 million by the end of March 2026, compared to US$114.57 million at the end of 2025. The increase was supported by accumulated profits and the issuance of new shares, strengthening the company’s capital fundamentals.

“We remain optimistic that this business growth momentum will continue alongside rising global aviation activity and increasing demand for maintenance services. Going forward, GMF will continue focusing on strengthening operational excellence, expanding international markets, and delivering increasingly competitive engineering capabilities to support healthy and sustainable business growth,” he said.

On a consolidated basis, Garuda Indonesia Group’s performance also showed a positive recovery trend. By the end of March 2026, consolidated revenue grew 5.36 percent to US$762.35 million, while passenger traffic rose 6.76 percent to 5.42 million passengers. At the same time, the company successfully reduced its net loss by 45.19 percent to US$41.62 million.

(Read Jakartaweekly.com news on Google News)