Pt Garuda Indonesia (persero) Tbk Class B · IDX:GIAA
Pt Garuda Indonesia (persero) Tbk Class B — H1 2026 Earnings Presentation
29 slides from Pt Garuda Indonesia (persero) Tbk Class B's earnings presentation, 2026
Slide 1: Corporate Presentation PT Garuda Indonesia 1H 2026
Corporate Presentation PT Garuda Indonesia (Persero) Tbk 1H 2026
Slide 2: Table of Contents
1 1H 2026 Summary 2 Operational Performance Table of 3 Financial Highlights Contents 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 3: Disclaimer
Disclaimer PT Garuda Indonesia (Persero) Tbk provides this presentation as part of its commitment to transparency in presenting data and information to shareholders and stakeholders. The contents of this presentation are derived from internal analysis and reliable sources believed to be credible. Th
Slide 4: Management
Management Board of Commissioners Board of Directors Fadjar Chairal Glenny H. Thomas Balagopal Prasetyo Tanjung Kairupan Oentoro Kunduvara President Commissioner President Director Vice President Director of Finance Commissioner & CEO Director & Risk Management concurrently as Independent Commission
Slide 5: 1H 2026 Summary
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 6: 1H 2026 Corporate Highlights
1H 2026 Corporate Highlights 1 2 3 4 5 6 January 2026 February 2026 February 2026 March 2026 March 2026 March 2026 Enhancing Hajj Garuda Group Garuda Indonesia Garuda Indonesia opened a new sales Achieved 92.08% Garuda Indonesia Procurement Supports Hajj Group Strengthens Community Service office in
Slide 7: 1H 2026 Awards & Recognition
1H 2026 Awards & Recognition 1 2 3 4 5 TOP 10 TOP 25 WINNER GOLD WINNER WINNER Best Airlines in Asia World’s Best Full-Service • Best Elite Program Airline Category DestinAsian Readers’ Airlines 2026 • Best Redemption WOW Brand Marketeers Choice Awards 2026 AirlineRatings.com Ability Awards 2026 Mos
Slide 8: Garuda Indonesia Group – 1H 2026 Financial Highlights
Garuda Indonesia Group – 1H 2026 Financial Highlights Revenue increased by USD 247.2 million, driven by higher passenger revenue and non-scheduled airline services, including Hajj operations; operating profit rose by USD 8.3 million despite a USD 205.8 million (+43.6%) increase in fuel costs, while
Slide 9: Garuda Indonesia Group – 1H 2026 Operational Highlights
Garuda Indonesia Group – 1H 2026 Operational Highlights Passengers carried increased 4.1% to 10.7 million on 1.2% higher capacity (ASK), with seat load factor stable at 78.4%, while passenger yield rose 11.3% to 8.4 US cents, on-time performance improved by 6.9pp to 92.9%, and the serviceable fleet
Slide 10: Operational Performance
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 11: Passenger and Cargo Operational Performance
Passenger and Cargo Operational Performance Group passenger yield increased 22.0% year-on-year to 9.4 US cents in 2Q 2026. (Passenger/Cargo Yield in US Cents) (SLF/CLF in %) Group Passenger Performance Group Cargo Performance 9.4 7.4 7.7 7.5 7.6 46.7 43.6 7.2 40.4 35.3 38.2 35.0 82.8 53.9 78.1 78.2
Slide 12: Financial Highlights
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 13: Group Revenue
Group Revenue 1H 2026 revenue rose USD 247.2 million year-on-year, driven by higher passenger revenue and non-scheduled airline services, including Hajj operations. 1H 2026 Group revenue 1,033.1 119.9 1,795.4 USD million 842.1 +16.0% YoY vs 1,548.2 in 1H 2025 824.6 826.2 762.4 723.5 76.3 87.6 247.8
Slide 14: Group Operating Expenses
Group Operating Expenses 1H 2026 operating expenses rose by USD246.0 million year-on-year, mainly on the back of higher fuel costs. 1,036.7 1H 2026 Group Operating expenses 840.2 1,750.0 USD million 785.6 782.9 +16.4% YoY vs 1,504.0 in 1H 2025 718.4 713.2 583.9 • Fuel costs increased by USD 205.8 mi
Slide 15: Group Operating Profit
Group Operating Profit Operating profit was USD 8.4 million higher in 1H 2026. 1H 2026 Operating profit 51.0 66.9 74.0 USD million +12.7% YoY vs 65.6 in 1H 2025 129.3 • Revenue increased by USD 247.2 million, led by scheduled (+USD 129.3 million) and non-scheduled revenue (+USD 66.9 million), includ
Slide 16: Group Net Result
Group Net Result Net loss narrowed by USD 34.1 million in 1H 2026. 1H 2026 Net loss 247.2 (113.0) USD million Narrowed 23.2% vs (147.0) in 1H 2025 • In addition to an improved operating profit, 1H 2026 also saw non-operating items improve 29.1 by USD 29.1 million, including lower finance costs. (205
Slide 17: Fuel Price Impact on 2Q 2026
Fuel Price Impact on 2Q 2026 Strong revenue generation could have delivered a larger improvement in overall performance, but for the rise in fuel costs in 2Q 2026. Group average fuel price¹ (US cents per litre) Group net income (loss), 2Q 2026 vs 2Q 2025 (USD million) 160 250 Fuel cost 200 42.5 143.
Slide 18: Proposed Rights Issue (PMHMETD III)
Proposed Rights Issue (PMHMETD III) To align GMF’s legal ownership, control and economic interest and control About the transaction Indicative timetable Next Steps • Capital Increase with Pre-emptive Rights EGMS on 6 November 2026 Event Date (PMHMETD III) of up to 124.35 billion Series E • Seek shar
Slide 19: Fleet Development & Serviceability Status
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 20: Group's Fleet Development & Serviceability Status
Group's Fleet Development & Serviceability Status Serviceable aircraft rose by 17 year-on-year and are planned to increase further through 2027 as new Garuda Indonesia aircraft are delivered. Serviceable fleet, Garuda Indonesia and Citilink Total fleet aircraft Jun 2026 Dec 2026F Jun 2027F GARUDA IN
Slide 21: Transformation
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 22: Business Goals & Strategies
Business Goals & Strategies Executing six key transformation pillars as the foundation for operational stabilization, service excellence, and sustainable growth. “To Become a Sustainable Aviation Group by Connecting the Indonesia Archipelago and Beyond while Vision Passionately Deliver Indonesian Ho
Slide 23: Transformation Milestone
Transformation Milestone Commercial initiatives are lifting unit revenue while non-fuel unit costs remain under control, as the program moves from stabilization in 2026 to strengthening in 2027–2028. RASK 1H 2026 vs 1H 2025 CASK ex-fuel 1H 2026 vs 1H 2025 +12.9% Increased to 7.4 US cents, supported
Slide 24: Thank You
THANK YOU
Slide 25: Appendix
1 1H 2026 Summary 2 Operational Performance 3 Financial Highlights 4 Fleet Development & Serviceability Status 5 Transformation 6 Appendix
Slide 26: Financial & Operational Data (Consolidated)
Financial & Operational Data (Consolidated) Q2 2026 Q2 2025 Change 1H 2026 1H 2025 Change REVENUE Scheduled Airline Services 665.4 580.5 14.6% 1,313.5 1,184.2 10.9% Non-Scheduled Airline Services 247.8 167.9 47.6% 272.8 205.8 32.5% Others 119.9 76.3 57.2% 209.2 158.2 32.2% Total Operating Revenue 1,
Slide 27: Operational Data
Operational Data Q2 2026 Q2 2025 Change 1H 2026 1H 2025 Change GARUDA INDONESIA Passenger Carried (Million) 2.4 2.8 (13.0%) 4.9 5.4 (9.1%) Passenger Yield (US Cents) 9.4 7.9 18.9% 8.4 7.7 8.7% Seat Load Factor (%) 77.8 77.3 0.5 pp 77.5 77.9 (0.4 pp) Average Fare (USD) 155.9 135.0 15.5% 159.6 143.9 1
Slide 28: Operational Data
Operational Data Q2 2026 Q2 2025 Change 1H 2026 1H 2025 Change GARUDA INDONESIA – DOMESTIC Passenger Carried (Million) 1.9 2.1 (11.1%) 3.7 4.0 (8.0%) Passenger Yield (US Cents) 11.0 9.1 20.2% 10.3 9.2 11.8% Seat Load Factor (%) 79.6 80.2 (0.6 pp) 76.8 78.8 (2.0 pp) Average Fare (USD) 113.6 90.1 26.1
Slide 29: Thank You
Thank You PT Garuda Indonesia (Persero) Tbk IDX: GIAA investor@garuda-indonesia.com
PT Garuda Indonesia (Persero) — H1 2026 Earnings Presentation on 6ix