Garuda Indonesia's 2025 Losses Swell to Rp 5.42 Trillion, Here is the Reason
PT Garuda Indonesia Tbk (GIAA) has incurred losses amounting to US319.39million, orapproximatelyRp5.42trillion(atanexchangerateofRp17, 000/US), for the entirety of 2025. Garuda Indonesia’s management has provided reasons for the company’s losses reaching trillions of rupiah.
Garuda Indonesia’s President Director, Glenny Kairupan, stated that the losses swelled due to a decline in the company’s performance. This was impacted by dozens of aircraft fleets being unserviceable in the first half of 2025.
“It cannot be denied that the decline in Garuda Indonesia Group’s performance was mainly influenced by limited production capacity in the first half of 2025, where the number of unserviceable aircraft was still awaiting scheduled maintenance,” said Glenny in a written statement, quoted on Monday (23/3/2026) from detikFinance.
According to Glenny, there were 99 aircraft in the Garuda Indonesia Group fleet ready to fly, or serviceable aircraft, by the end of 2025. This figure rose from the June 2025 data, which stood at 84 aircraft.
The total number of unserviceable aircraft by the end of 2025 was 43 planes, currently in the process of maintenance completion. As a result, the number of passengers for the Garuda Indonesia Group was revised downward throughout 2025.
“Amid the challenges of optimising production capacity, the number of passengers recorded was 21.2 million, a 10.5% correction compared to the previous year,” explained Glenny.
Additionally, the company’s net loss was also triggered by rupiah currency fluctuations. Furthermore, the increase in fixed costs also contributed to the swelling of the net loss in line with the fleet serviceability recovery programme for unserviceable aircraft.
Not only that, according to Glenny, pressure on the rupiah exchange rate and challenges in the global aviation industry supply chain also raised costs and the maintenance process. Garuda Indonesia will continue to drive consistent business transformation along with the ongoing fleet recovery progress.
“Looking ahead, with the progress of fleet recovery and consistent implementation of transformation, Garuda Indonesia is optimistic that production capacity and operational performance will improve gradually towards a more solid recovery phase,” added Glenny.
Glenny further noted that funding support from the Danantara Investment Management Agency (BPI) Daya Anagata Nusantara has begun to impact the recovery of operational performance in the second half of 2025. At the very least, the company targets operating 68 Garuda aircraft and 50 Citilink planes by the end of 2026.
“Through capital injection funding support at the end of 2025, Garuda Indonesia targets at least by the end of 2026 to operate 68 serviceable aircraft, while Citilink targets 50 serviceable aircraft by the end of 2026,” explained Glenny.
Previously reported, PT Garuda Indonesia Tbk (GIAA) recorded a loss of US$319.39 million for the whole of 2025. Assuming an exchange rate of Rp 17,000, this loss amounts to around Rp 5.42 trillion. This loss figure swelled compared to the same period in the previous year, which was US$69.77 million or approximately Rp 1.18 trillion.