Garuda Indonesia (GA, Jakarta Soekarno-Hatta) has participated in a rights issue conducted by subsidiary PT Garuda Maintenance Facility Aero Asia Tbk, though not with cash. Instead, it provided IDR418.28 billion rupiah (USD25.8 million) in non-cash deposits, primarily hangars and supporting facilities.

A January 3 Indonesia Stock Exchange (IDX) filing shows that Garuda Indonesia handed over three hangars, annex buildings, and other supporting assets, including machinery and access roads, to its subsidiary. In return, it is entitled to receive 9,093,245,600 Series B shares valued at IDR25 (USD0.0015) each, giving the total share package a total nominal value of IDR227.33 billion (USD14 million).

Garuda Maintenance Facility Aero Asia, trading as GMF AeroAsia, is a major Southeast Asian MRO business that Garuda Indonesia spun-off and listed on the IDX in 2017. However, the flag carrier retains a 89%-plus shareholding.

In the filing, Garuda Indonesia said the transaction would improve operational efficiencies and increase "the strategic value of assets through management by entities that have special competencies."

In related news, another Garuda subsidiary, Citilink (QG, Jakarta Soekarno-Hatta), wants to have all its aircraft back in service by the end of 2025. Last week, Citilink President Director Dewa Kadek Rai told Jakarta journalists that his focus was on getting 19 grounded aircraft back in the air.

"Our focus this year is to make all of the aircraft serviceable so that by the end of the year, all of our aircraft will be able to fly, namely 56 aircraft," he said. "Currently, we have 75 routes and 49 destinations. If our target is to service all aircraft, we will increase the frequency on existing routes, and there will be additional routes, especially to eastern Indonesia where we currently do not have many frequencies."

The ch-aviation fleets module shows that the LCC's fleet comprises 61 in-house aircraft, namely thirty-nine A320-200s, ten A320-200Ns, one A330-300, two A330-900Ns, eight ATR72-600s, and one B737-500. Eight A320s, seven A320neo, the A330, five ATR72s, and the B737 are inactive.