September 16, 2025 | 11:59 am
TEMPO.CO, Jakarta - Wamildan Tsani, the CEO of Indonesia-owned flagship carrier Garuda Indonesia, spoke on the merger plan between the company and Pelita Air, a subsidiary of Pertamina. The CEO of the state-owned oil giant Pertamina, Simon Aloysius, also revealed the merger plan.
Wamildan said the company is currently focused on improving performance through equity enhancement, fleet restoration, business ecosystem recovery, and passenger traffic improvement. The merger talks, he said, remain in the exploration stage.
"The talks about state-owned aviation sector consolidation are still in the early exploration stage, for which we continue to coordinate with relevant stakeholders," said Wamildan in a disclosure at the Indonesia Stock Exchange, Monday, September 15, 2025.
Wamildan mentioned that Garuda Indonesia will provide updates on the merger progress once it advances. Wamildan said he could not yet confirm what the impact of this initiative will be. "The company will know of the impact after a comprehensive study on the matter, which we can run together with other relevant parties in the subsequent stage of the exploration phase," he said.
Meanwhile, the Minister of State-Owned Enterprises, Erick Thohir, said the merger plan's review and benchmarking process will be conducted by Indonesia's sovereign wealth fund, Danantara. The ministry, he said, will give the stamp of approval by the end.
"Basically, we support what Danantara will do," said Erick Thohir to reporters after attending a meeting with House Commission VI at the Parliament Complex, Jakarta, Monday, September 15, 2025.
Previously, Pertamina CEO Simon Aloysius mentioned that this merger is part of Pertamina's aim to focus on the company's "core business" of oil, gas, and renewable energy sectors. "Some businesses will be spun off and possibly under the coordination of Danantara," said Simon on Thursday, September 11, 2025.
Alif Ilham Fajriadi and Anastasya Lavenia contributed to the writing of this article
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