November 16, 2025 | 01:03 pm
TEMPO.CO, Jakarta - PT Garuda Indonesia Tbk (GIAA) announced plans for an Extraordinary General Meeting of Shareholders on December 23, 2025. In its announcement to the Indonesia Stock Exchange on Friday, November 14, 2025, Garuda Indonesia will hold an Extraordinary General Meeting of Shareholders in Tangerang.
However, Garuda management has not yet announced the agenda for this shareholder meeting. "The company intends to hold an Extraordinary General Meeting of Shareholders on December 23, 2025," management stated, as quoted on Sunday, November 16, 2025.
On Wednesday, November 12, 2025, Garuda Indonesia recently completed an Extraordinary General Meeting of Shareholders to approve a capital injection of Rp23.67 trillion from PT Danantara Asset Management (DAM).
The Extraordinary General Meeting of Shareholders was attended by shareholders representing 75.88 percent of the company's total shares. During the meeting, shareholders approved the capital injection through a Capital Increase Without Pre-emptive Rights (PMTHMETD) mechanism by Danantara. The capital investment consists of a cash injection of Rp17.02 trillion and a debt conversion of Rp6.65 trillion.
"With stronger capital, we can strengthen operational reliability, improve fleet readiness, and provide modern and reliable flight services to the public," said Garuda Indonesia President Director Glenny Kairupan, as quoted in a written statement on Thursday, November 13, 2025.
Glenny stated that this step is part of the company's ongoing recovery and transformation program following a major debt restructuring several years ago. With this additional capital, the state-owned airline plans to strengthen its financial structure, improve fleet readiness, and accelerate operational transformation, including at its subsidiary, Citilink.
Of the total Rp23.67 trillion in Danantara's capital investment, approximately Rp8.7 trillion (37 percent) will be used for Garuda Indonesia's working capital needs, such as aircraft maintenance and upkeep. Meanwhile, Rp14.9 trillion (63 percent) was allocated to support Citilink's operations, consisting of Rp11.2 trillion for working capital and Rp3.7 trillion to settle fuel purchase obligations to Pertamina for the 2019–2021 period.
Nandito Putra contributed to this article.
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