Garuda Indonesia Targets 2026 as Turnaround Point for Airline Performance
JAKARTA – PT Garuda Indonesia (Persero) Tbk (IDX: GIAA) has set 2026 as the turnaround phase for the airline’s performance after it underwent business consolidation throughout 2025, marked by revenue decline and operational pressure due to fleet constraints.
Throughout the 2025 financial year, Garuda Indonesia Group recorded consolidated operating revenue of USD 3.22 billion, approximately Rp 50.2 trillion (at an exchange rate of approximately Rp 15,600 per USD). This figure declined 5.9 per cent compared to the previous year.
Garuda Indonesia Chief Executive Officer Glenny Kairupan stated that the company is now focusing its transformation efforts to improve business fundamentals towards a performance recovery phase.
“Garuda Indonesia is positioning 2026 as the acceleration point for the company’s performance recovery,” said Glenny in a statement on Tuesday (17/3/2026).
Throughout 2025, company performance was also affected by production capacity limitations in the first semester of 2025 as several aircraft awaited scheduled maintenance. This condition left the number of unserviceable aircraft quite high.
Garuda Indonesia recorded a net loss of USD 319.39 million, approximately Rp 4.98 trillion in 2025. This loss was influenced by foreign exchange rate fluctuations and increased fixed costs as the intensity of the fleet recovery programme for non-operational aircraft increased.
Despite these challenges, Garuda Indonesia Group’s passenger numbers reached 21.2 million people, declining 10.5 per cent compared to the previous year.
The new leadership structure comprises Chief Executive Officer Glenny Kairupan and Deputy Chief Executive Officer Thomas Oentoro, supported by a combination of internal talent and international professionals in the board of directors.
Management has prepared 11 strategic transformation initiatives to be implemented throughout 2026. These initiatives include route network optimisation, fleet capacity enhancement, digital platform transformation, strengthened revenue management, increased cargo monetisation, optimised ancillary revenue, formation of strategic alliances, enhanced cost governance, operational digitalisation, organisational synergy, and improved customer experience.
According to management, these steps are part of a long-term strategy to strengthen the national airline’s competitiveness amid global aviation industry dynamics.