GMF Records Net Profit of US$6.7 Million in Q1 2026
Jakarta – A subsidiary of Garuda Indonesia Group, PT Garuda Maintenance Facility Aero Asia Tbk (GMF), recorded a net profit of US$6.76 million, or approximately Rp 107 billion, in the first quarter of 2026.
GMF’s President Director, Andi Fahrurrozi, stated that this figure represents a significant surge of 78.28 per cent compared to the US$3.79 million achieved in the same period of 2025.
“This achievement in Q1 2026 surpasses the previous year’s growth, indicating the effectiveness of the recovery strategies and capability enhancement we are implementing,” Andi said in his statement on Thursday, 7 May 2026.
He detailed that the profit growth was supported by an increase in revenue to US$114.94 million as of the end of March 2026, up 20.53 per cent from US$95.36 million in Q1 2025.
According to him, this financial performance aligns with several strategic operational achievements across various business lines. One of them is GMF’s success in completing its first independent full overhaul of a CFM56-5B engine for Citilink, funded by Danantara.
GMF also strengthened its position in the international market by adding new customers from South Korea, namely Airzeta and T-Way. Additionally, it completed strategic projects such as the overhaul of an A330 aircraft for Korean Air and landing gear replacement for Fiji Airways.
GMF’s expansion also extends to the non-aviation sector through the completion of the normalisation of the PLTG MPP Balai Pungut TM2500 #3 for PLN Batam, which further underscores the company’s contribution to national energy infrastructure.
Alongside the improved profitability, the company’s equity position has also seen enhancement. GMF’s total equity rose to US$140.58 million as of 31 March 2026, up from US$114.57 million at the end of 2025.
Andi stated that this increase was driven by the accumulation of net profit and the realisation of corporate actions through the issuance of new shares, which strengthens the company’s financial fundamentals.
“We are optimistic that this positive momentum will continue. Our focus remains on service excellence, business diversification, and capital structure strengthening to deliver sustainable added value for all stakeholders,” he said.