TEMPO.CO, Jakarta - Member of Commission VI of the House of Representatives, Mufti Anam, raised concerns about the loan from the Investment Management Agency Danantara to PT Garuda Indonesia (Persero) Tbk., stressing that it remains a debt that must be repaid.
He underlined the need for responsible use and strict oversight of the funds.
Mufti said he was surprised to learn about the loan and criticized Danantara for not involving Commission VI, which oversees state-owned enterprises.
"Danantara, carelessly providing such a large loan to Garuda Indonesia amidst public doubt about its presence," Mufti told Tempo on Wednesday, July 2, 2025.
The loan, valued at up to Rp6.65 trillion, comes in the form of a shareholder loan from Danantara Asset Management, a holding company under Danantara. It will be disbursed in stages depending on the application process.
Despite his initial surprise, Mufti sees the loan as a potential turning point for Garuda’s financial recovery. "If it fails, the public's trust will be thinly stretched," he said.
He recalled Garuda’s condition in 2022 when the airline received a capital injection from the government, which he said made little impact.
"The funds only lasted for a few months, then disappeared without a significant impact on the company's fundamentals," he said.
Chief Operating Officer of BPI Danantara, Dony Oskaria, stated that the loan is part of a broader restructuring and transformation plan. He stressed that Garuda represents more than just a business entity.
"We're not just providing funding, but we're present as shareholders with a clear mandate and an institutional approach," Dony said in an official statement on Thursday, June 26, 2025.
Garuda Indonesia President Director, Wamildan Tsani Panjaitan, outlined the current challenges faced by the aviation industry, citing rising aviation fuel prices, high maintenance costs, supply chain issues, and currency volatility.
"Costs, costs, and costs (are the main challenges)," Wamildan said during an international infrastructure conference on June 11, 2025.
He believes the Danantara loan can help strengthen Garuda's operations, but success will also require commitment from within the company and support from multiple stakeholders.
"Thus, strengthening the position of Garuda Indonesia as a world-class airline," he said.
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