Latest news with #PTGarudaIndonesia
Bloomberg
5 days ago
- Business
- Bloomberg
Garuda in Talks to Bring 737 Max Back Years After Fatal Crashes
Cash-strapped carrier PT Garuda Indonesia is in talks to bring Boeing Co. 's 737 Max 8 aircraft back to its fleet for the first time since the fatal 2018 PT Lion Mentari Airlines crash shook confidence in the plane's reliability. The 737 Max 8 would be leased from BOC Aviation Ltd., which said in a statement that it has 'been in commercial discussions with Garuda in respect of one B737-8 aircraft,' according to Timothy Ross, BOC Aviation's head of investor relations.
Mint
6 days ago
- Business
- Mint
Indonesia to Continue Talks on Jets, Minerals After Tariffs Deal
(Bloomberg) -- Indonesia will keep talking with the US on sectoral tariffs, jet purchases and critical minerals after securing a 19% baseline tariff rate on exports to the world's largest economy, a government adviser said Thursday. Jakarta will 'continue to negotiate with good intention,' Mari Elka Pangestu, an adviser to President Prabowo Subianto on international trade and multilateral cooperation, said in an interview with Haslinda Amin on Bloomberg TV. That includes enhancing business interactions, helping diversify America's critical mineral- supply chain and negotiating sector-specific tariffs on products including aluminum and steel, she said. Several key business agreements linked to tariff discussions, such as PT Garuda Indonesia's plans to purchase dozens of Boeing Co. jets, also require commercial signoffs, Pangestu noted. The state-owned airline, which has been seeking to turn around its finances after sinking into the red last year, has said it could buy 50 or more jets, but a formal deal has yet to be announced. 'These are all commercial deals that will, of course, have to be done on competitive and business-to-business terms,' she said. 'There are things being done, being undertaken, to improve Garuda's performance and ability, obviously, to purchase these Boeing jets.' The purchase is part of an ongoing process to revitalize Indonesia's flag-carrier, Pangestu said. The tariffs deal, struck earlier this week between President Donald Trump and Prabowo, erases duties on US imports to Indonesia, and includes plans by the Southeast Asian nation to buy more than $19 billion of American energy and agricultural products. The agreement was among the first announced globally as the US carries out negotiations with dozens of countries. That highlights both Indonesia's ongoing effort to strategically balance economic ties between the US and China, and Southeast Asia's role as a crucial pivot in global trade dynamics amid rising geopolitical tensions. Pangestu, also a member of Indonesia's National Economic Council (DEN), said the country will grant the US increased access for exports not competing directly with Indonesian products or those in short supply locally, such as wheat and cotton. Officials expect only a modest impact on imports overall. 'It's not about opening up totally and giving in everything to the US,' she said. 'It is more nuanced and balanced than what maybe appears to the outsider.' The deal benefits Indonesia by securing lower tariffs compared to competitors on key exports to US like palm oil, she said. 'But of course we will continue to be talking to the US,' she added. 'There are other components to a trade deal that we would of course like to have more benefit coming to us.' --With assistance from Anand Menon. More stories like this are available on
Bangkok Post
04-07-2025
- Business
- Bangkok Post
Indonesia sees ‘bold' US trade deal, vows major tariff cuts
Indonesia is confident it is close to securing a 'bold' trade deal with the United States that will span critical minerals, energy, defence cooperation and market access ahead of the looming tariff deadline, according to the nation's chief negotiator. The government commits to a near-zero tariff for over 1,700 commodities or close to 70% of US imports, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said in a statement sent to Bloomberg News on Friday. These cover key sectors requested by the US, including electronics, machinery, chemicals, healthcare, steel, agriculture and automotive. The sweeping deal could signal optimism as Southeast Asia's largest economy seeks to bring down a threatened 32% tariff rate to a level lower than the 20% Vietnam secured earlier this week. The US is Indonesia's second-largest export market, after China. Still, Hartarto said the government remains in 'wait-and-see' mode for a final decision from Washington before the higher tariffs come into force on Wednesday. The rupiah held steady at 16,180 against the US dollar following the news while the stocks maintained earlier loss of 0.2%. 'The market will look at the full picture to gauge the actual impact on Indonesia exports sector, as we need to compare the final US tariffs on different economies to know the change in competitiveness of export,' said Jeffrey Zhang, emerging market strategist at Credit Agricole in Hong Kong. In the sector of critical minerals, 'plans include preferential access for US buyers, enhanced scrutiny of foreign ownership in the supply chain, and joint initiatives to ensure secure, transparent sourcing for key US industries,' Hartarto said. The measures may make it easier for US firms to avoid buying from China-backed metals firms based in Indonesia, which is home to the world's largest reserves of nickel, a key component of batteries. Indonesia will also ramp up its imports of US gas and agricultural goods, in a bid to boost the nation's food and energy security. State-owned airline PT Garuda Indonesia is also exploring commercial cooperation, which could include new aircraft purchases and maintenance services. Meanwhile, the government plans to expand its procurement of US military equipment, 'reinforcing its position as a reliable defence partner in the Indo-Pacific.' Indonesia pledged 'fairer treatment' for American firms by relaxing local content requirements, bolstering intellectual property protection, and opening the national payment gateway to US providers — key issues the US Trade Representative has regularly flagged in its yearly reports. 'The message is clear: Indonesia is pursuing a balanced, forward-looking economic relationship that yields tangible benefits for businesses and workers across both shores of the Pacific,' Hartarto said.
Bloomberg
03-03-2025
- Business
- Bloomberg
Garuda Set to Replace Head of Low Cost Unit in Push for Recovery
Indonesian flag carrier PT Garuda Indonesia is planning to replace the head of its low cost unit, PT Citilink Indonesia, in an effort to boost profitability and recover from the fallout of the pandemic and subsequent debt restructuring. Darsito Hendro Seputro, a former executive at Thai Lion Air, is a leading candidate for the role, according to people familiar with the matter, who asked not to be identified because they're not authorized to speak publicly. He would take over the position currently held by Dewa Kadek Rai, who has worked at Garuda since the early 1990s and was appointed Citilink chief executive officer in 2022.
