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Garuda Indonesia TBK
Garuda Indonesia TBK
in the services of the Indonesian national airline. This company was founded on March 31,
1950 and started commercial operations in 1950 with the office of Headquarters at Soekarno
International Airport. PT Garuda Indonesia enters the Stock Exchange Indonesian Securities
(IDX) on February 11, 2011 with the code GIAA. PT Garuda Indonesia became one of the first
state-owned enterprises (BUMN) todeveloping IT-based cloud computing. This is in line with
implemented, especially development in the field of Information and technology where cloud
with -based development internet that has the function to run programs or applications
oriented company slogan to provide services Air transportation that is affordable and reaches all areas. This
company primarily engaged in the commercial aviation business. Its business is classified into three segments,
namely flight operations, aircraft maintenance services, and other operations. The company operates full-
service freight aircraftunder the brand name Garuda Indonesia, while its subsidiary, PT Citilink Indonesia
operates economy transport aircraft under the Citilink brand name. Service business maintenance of its aircraft
is carried out by its subsidiary, PT Garuda Maintenance Facility Aero Asia. Other business operations run by
children companies such as PT Aero Wisata, which is engaged in the hospitality and tourism industry, PT
Abacus Distribution Systems Indonesia, which is engaged in providing services information technology in
computer reservation systems, and PT Aero Systems Indonesia, which providing information technology
systems consulting, engineering and maintenance services for aviation and other industries.
The COVID-19 pandemic has had a major impact on airline businesses awards in
the world of international aviation, namely decrease in flight activity thus
affecting the income of maskapi due to the regulations issued by the government
such as lock down social distancing and others. From this regulation makes
Garuda Indonesia's business suffer losses.
Financial Position 2020-2021
During the time pandemic, Garuda Indonesia has a very significant decline
in flight activity where before the pandemic Garuda Indonesia had
approximately 500 flights/day and then flights during the pandemic
decreased to approximately 150 flights / day and even then not filled with
passengers, this caused Garuda Indonesia to experience a significant
decrease in revenue so drastic that Garuda Indonesia suffered losses due
to income that did not match expenditure.
The change in Garuda Indonesia's revenue during this pandemic brought
losses to the company, because the change in income is not greater than
the expenditure operational costs incurred by Garuda Indonesia resulting
in losses.
Financial Position 2020-2021(ASSETS)
Financial Position 2020-
2021(LIABILITIES)
Financial Position 2020-
2021(LIABILITIES)
Income statement
Working capital
Working Capital is a fund used to carry out the company's operations. In other
words, working capital is defined as working capital invested in a company in the
form of short-term assets such as cash, banks, receivables, securities and various
other current assets.
Formula
From the table, we can see that the amount of debt is higher above assets and
gives rise to a net working capital figure that tends to be negative, so it can be said
that the company's condition is on the verge of bankruptcy