Pefindo Maintains Garuda Indonesia (GIAA) Rating at idBBB
PT Pemeringkat Efek Indonesia (Pefindo) has maintained the corporate rating of PT Garuda Indonesia (Persero) Tbk at the “idBBB” level. This reaffirmation of the rating reflects the company’s adequate ability to meet long-term financial obligations, amidst pressures still looming over the global aviation industry.
The assessment is based on an evaluation of the audited financial statements as of 31 December 2025, as well as considering projections of performance and the sustainability of the company’s transformation strategy. This rating applies for the period from 15 April 2026 to 1 April 2027.
In Pefindo’s classification, the “idBBB” rating indicates a stable credit profile with a still strong capacity to meet financial commitments, although it remains sensitive to external pressures such as economic volatility and global geopolitics.
Deputy Director of Garuda Indonesia, Thomas Oentoro, stated that this rating stability serves as an important indicator of the progress in the transformation being undertaken by the company.
Furthermore, Thomas added that this achievement also reflects the increasing confidence of stakeholders in the company’s ability to maintain business stability and manage risks in a measured manner.
Garuda continues to accelerate the transformation of operational performance as a foundation for sustainability. These efforts are carried out through six main pillars, namely transformation of services and customer experience, brand strengthening, business transformation, operations, digital, and human resource development.
Through these steps, the company targets measurable results while ensuring a stronger long-term foundation and continuously increasing competitiveness.
Although Pefindo emphasises the potential for a negative outlook in line with potential industry pressures due to geopolitical situations, Garuda Indonesia views optimism towards future business prospects as remaining intact through financial structure strengthening, improved operational discipline, and acceleration of production capacity recovery.
“We will continue to maintain this performance improvement momentum consistently. Our focus is not only on short-term stability, but also on ensuring business sustainability through a healthier and more resilient financial structure via various initiatives we are implementing,” Thomas concluded.