ENDTERM EXAMINATION ODD SEMESTER 2023/2024
Lecturer :
I Gede Nandya Oktora P., S.E., M.B.A., CRA., CRP.
Compiled By :
I Gede Dipta Mahesa (14) / 2307521116
MANAGEMENT MAJOR
FACULTY OF ECONOMICS AND BUSINESS UDAYANA UNIVERSITY
2023
INTRODUCTION
Garuda Indonesia's airlanes unfolds as a tale of highs and lows. Originating in 1949, it grew to become a major player in the airline industry, reaching its peak in 2018 with over 38 million passengers and substantial revenues. The airline's trajectory, however, took a downturn in 2020 as the Covid-19 pandemic disrupted global travel, causing a significant decline in passenger numbers and revenues.The pandemic was not the sole factor contributing to Garuda Indonesia's predicament. Deep-rooted issues surfaced, including a history of corruption and mismanagement. The revelations about discriminatory policies and the removal of the main director in 2019 hinted at internal struggles. As the company faced financial challenges and a staggering debt of over $9.8 billion to numerous creditors, it resorted to drastic measures.In response to its financial crisis, Garuda Indonesia initiated a Chapter 15 bankruptcy protection filing in September 2022. The company sought to restructure its debt and implement strategies for recovery. The success of this endeavor remains uncertain, given the magnitude of its liabilities and the complex interplay of external and internal factors.A closer look at the financial data reveals a dire situation by the end of 2021, with total liabilities exceeding $13.3 billion. The company's attempt to weather the storm involved cost-cutting measures, employee layoffs, and seeking court approval to reschedule its debt repayments over a three-year period.The question looming over Garuda Indonesia's future is whether it can reclaim its former glory as a 5-star airline and Indonesia's flag carrier. The aviation industry has undergone unprecedented challenges, but the airline's potential resurgence is also contingent on its ability to address corruption issues, implement effective governance, and navigate the complexities of a post-pandemic world.In June 2022, revelations about illicit airplane purchases added another layer to the company's woes, leading to a substantial financial loss. This underscores the importance of robust management and governance practices in steering the airline through troubled waters.As the company embarks on a path of restructuring and debt resolution, only time will tell whether Garuda Indonesia can emerge from this tumultuous period and redefine its standing in the aviation industry. The story of Garuda Indonesia is not just about external crises but also a reflection of internal dynamics that have shaped its trajectory over the years.
Problems Statement
I. How can Garuda Indonesia restructure its existing debt to ensure long-term financial sustainability?
II. What strategies should Garuda Indonesia implement to enhance customer satisfaction and service quality?
III. How can Garuda Indonesia effectively revamp its marketing strategies to attract more customers and regain market share?
IV. What operational reforms are necessary for Garuda Indonesia to become more efficient and cost-effective?
V. In what ways can Garuda Indonesia expand its business while managing its current financial constraints.
SOLUTION I. Debt Restructuring
Objective: Successfully renegotiate debt terms with creditors, aiming to reduce the debt burden by 50% in the next three years.
Engage financial experts to conduct a thorough analysis of Garuda Indonesia's financial standing. Develop a comprehensive debt restructuring plan, emphasizing extended repayment schedules, lower interest rates, and possible debt forgiveness negotiations. Establish transparent communication channels with creditors, presenting the airline's commitment to financial recovery.
Periodic updates and progress reports should be shared to build trust and maintain open dialogue.
1. Comprehensive Debt Assessment
- Conduct a thorough analysis of all outstanding debts, categorizing them based on interest rates, maturity dates, and contractual terms.
- Prioritize debts based on urgency and the feasibility of renegotiation.
2. Engage in Open Communication with Creditors
- Initiate transparent communication channels with creditors, sharing detailed financial reports and forecasts.
- Clearly communicate the airline's financial challenges, the reasons for debt restructuring, and the importance of creditors' cooperation.
3. Renegotiate Terms - Interest Rate Reduction
Present a compelling case for a reduction in interest rates, emphasizing the improved financial health and strategic importance of the airline.
- Provide evidence of industry benchmarks and comparable interest rates to support the proposed reductions.
- Highlight the potential for higher overall returns through extended partnerships with a financially stable Garuda Indonesia.
- Extended Maturities :
Propose extended repayment periods to ease short-term liquidity pressures.
Present a realistic repayment schedule that aligns with the airline's expected cash flow improvements.
- Grace Periods
Request grace periods for both interest and principal repayments during the restructuring phase.
Demonstrate how these grace periods will contribute to the overall success of the restructuring plan.
4. Debt-to-Equity Conversion
- Explore the option of converting a portion of the debt into equity.
- Frame this as a win-win scenario, providing creditors with a stake in the airline's potential future success.
- Consult legal and financial advisors to navigate the complexities of debt-to-equity conversions and ensure a fair and mutually beneficial arrangement.
5. Government Support
- Engage in high-level discussions with government officials to explore financial support or guarantees.
- Emphasize the airline's strategic importance in promoting national connectivity and tourism.
- Work collaboratively with relevant government agencies to align restructuring efforts with broader economic goals.
6. Asset Sales and Monetization
- Identify non-core assets that can be sold or monetized to generate funds.
- Prioritize assets that do not compromise the core operations of the airline.
- Ensure that asset sales align with the overall restructuring objectives and contribute significantly to debt reduction.
7. Cost-Cutting Measures
- Implement rigorous cost-cutting measures across all facets of the organization.
- Clearly communicate these measures to creditors, demonstrating the airline's commitment to financial discipline.
- Showcase the expected cost savings and their impact on improving the debt-to-revenue ratio.
8. Financial Performance Improvement
- Develop and implement strategies to improve the airline's financial performance.
- This may include route optimization, revenue enhancement initiatives, and efficiency improvements.
- Share detailed plans with creditors to instill confidence in the long-term viability of the airline.
9. Monitor and Adjust
- Establish a robust monitoring system to track the progress of the debt restructuring plan.
- Regularly assess the impact of implemented measures on financial metrics.
- Be agile and prepared to adjust the plan based on changing circumstances or unforeseen challenges.
10. Professional Advisory Support
- Engage financial advisors, legal experts, and debt restructuring specialists.
- Leverage their expertise to navigate complex negotiations and ensure compliance with legal and regulatory requirements.
- Seek their guidance on optimal restructuring strategies to achieve the outlined objectives.
Objective Measurement
- Establish key performance indicators (KPIs) to measure the progress of the debt reduction plan.
- Regularly report to creditors on achieved milestones, providing transparent updates on the company's financial trajectory.
- Ensure that all stakeholders are aligned on the objectives and expectations throughout the restructuring process.
In summary, the success of Garuda Indonesia's debt restructuring plan relies on a combination of effective communication, strategic negotiation, financial discipline, and collaboration with external stakeholders. The outlined steps aim to create a comprehensive and actionable plan to reduce the debt burden and ensure the long-term financial sustainability of the airline.
II. Service Improvement
Objective: Achieve a 15% increase in customer satisfaction scores and win an international airline service award within two years.
Implement a customer-centric approach by investing in staff training programs to enhance interpersonal skills and service delivery. Introduce innovative in-flight services, entertainment options, and personalized experiences. Establish feedback mechanisms to collect customer opinions and preferences. Regularly review and act upon feedback to ensure continuous improvement. Initiate marketing campaigns highlighting service enhancements to boost brand perception.
1.Customer Feedback Mechanism
- Establish a user-friendly online platform and mobile app for passengers to submit feedback easily.
- Analyze feedback in real-time to identify recurring issues and prioritize areas for improvement.
- Actively respond to customer feedback, demonstrating a commitment to addressing concerns.
2.Employee Training and Empowerment
- Implement comprehensive training programs covering customer service, conflict resolution, and cultural awareness.
- Provide ongoing professional development opportunities for staff.
- Empower frontline employees with decision-making authority to resolve issues promptly.
3.Personalized Customer Service
- Utilize a Customer Relationship Management (CRM) system to capture and analyze customer preferences.
- Train staff to recognize and acknowledge frequent flyers by name, providing a personalized touch.
- Implement a loyalty program that offers personalized rewards and benefits.
4.Enhanced In-Flight Experience
- Invest in modernizing in-flight entertainment systems, seating, and amenities.
- Collaborate with designers and ergonomics experts to create comfortable and visually appealing cabin interiors.
- Introduce unique features or services that differentiate Garuda Indonesia's in-flight experience.
5.Efficient Check-in and Boarding Process
- Implement online check-in and mobile boarding pass options to streamline pre-flight processes.
- Invest in automated kiosks and self-service options at airports.
- Provide clear communication and assistance to passengers during boarding.
6.Crisis Management and Communication
- Develop a comprehensive crisis communication plan with predefined protocols.
- Train staff on crisis management procedures to ensure a swift and effective response during disruptions.
- Utilize various communication channels to keep passengers informed during unexpected events.
7.Digital Transformation
- Develop a user-friendly mobile app for seamless booking, check-in, and post-flight interactions.
- Implement AI-powered chatbots for customer support to handle routine queries.
- Leverage data analytics to personalize digital interactions with passengers.
8.Quality Assurance Programs
- Establish regular audits and inspections of service delivery across all touchpoints.
- Conduct periodic mystery shopper programs to assess customer experiences objectively.
- Implement corrective actions based on the findings to continuously improve service quality.
9.Collaboration with Partners
- Work closely with airport authorities to improve ground services and facilities.
- Collaborate with other airlines and service providers for a seamless travel experience.
- Coordinate efforts to ensure consistency in service quality throughout the travel ecosystem.
10.Community Engagement and CSR Initiatives
- Engage in local community projects and initiatives aligned with the airline's values.
- Showcase CSR efforts through various channels to enhance the airline's reputation.
- Involve employees in volunteer programs to foster a sense of pride and community.
11.Innovative Loyalty Programs
- Enhance existing loyalty programs with exclusive perks and benefits.
- Collaborate with partners in the travel and lifestyle industry to expand the scope of loyalty rewards.
- Regularly communicate program updates and promotions to engage passengers.
12.Benchmarking and Industry Best Practices
- Regularly assess and compare Garuda Indonesia's service standards against global benchmarks.
- Attend industry conferences and forums to stay abreast of emerging trends and best practices.
- Implement proven strategies from successful international airlines to raise service standards.
13.Awards and Recognitions
- Actively participate in prestigious industry awards and competitions.
- Use earned awards in marketing campaigns to build credibility and attract more passengers.
- Display awards prominently in marketing materials and on the airline's website.
14.Multi-language Support
- Hire multilingual staff for customer service and communication.
- Translate key communication materials, including websites and in-flight announcements, into multiple languages.
- Ensure language proficiency is a criterion in employee recruitment and training.
15.Continuous Improvement Culture
- Encourage an open feedback culture within the organization.
- Establish cross-functional teams to brainstorm and implement improvement initiatives.
- Regularly review and adjust strategies based on customer feedback, industry trends, and organizational learning.
Implementing these detailed strategies in a coordinated manner will contribute to achieving the targeted 15% increase in customer satisfaction scores and positioning Garuda Indonesia as an international airline service award winner within the specified two-year timeframe. Each strategy plays a crucial role in enhancing different aspects of the customer experience, collectively contributing to the overall improvement of service quality.
III. Marketing Campaign
Objective: Increase passenger numbers by 20% and improve brand visibility in key markets within 24 months through targeted marketing campaigns.
Develop a dynamic marketing strategy leveraging digital platforms and social media.
Collaborate with influencers and travel bloggers to showcase unique offerings and cultural experiences. Launch targeted promotional campaigns, offering discounts, loyalty programs, and exclusive travel packages. Monitor campaign performance through analytics, adjusting strategies based on real-time data. Enhance partnerships with travel agencies and participate in industry events to increase brand visibility.
1. Market Research and Segmentation
- Conduct thorough market research to understand the preferences and behaviors of target audiences.
- Identify key customer segments and create detailed buyer personas for personalized targeting.
2. Brand Positioning and Differentiation
- Clearly define Garuda Indonesia's unique value proposition and brand positioning.
- Emphasize distinctive features, such as exceptional in-flight services, safety records, and cultural connections.
3. Digital Presence Enhancement
- Revamp the official website to ensure a user-friendly experience and easy navigation.
- Leverage social media platforms to engage with the audience, share customer stories, and promote special offers.
4. Content Marketing and Storytelling
- Develop compelling content that showcases the airline's story, commitment to safety, and passenger-centric services.
- Utilize blog posts, videos, and interactive content to engage and educate the audience.
5. Targeted Advertising Campaigns
- Create targeted advertising campaigns on digital platforms, focusing on key demographics and geographic regions.
- Utilize pay-per-click (PPC) advertising, social media ads, and display ads to reach potential passengers.
6. Personalized Offers and Loyalty Programs
- Introduce personalized offers and promotions based on customer preferences and travel history.
- Enhance and promote the airline's loyalty program to encourage repeat business.
7. Strategic Partnerships and Alliances
- Form strategic partnerships with travel agencies, hotels, and other relevant businesses to expand the reach.
- Collaborate with tourism boards to create joint campaigns promoting travel to Indonesia.
8. Influencer Marketing
- Identify and collaborate with influencers in the travel and lifestyle space to promote Garuda Indonesia.
- Leverage influencers to share authentic travel experiences and recommendations.
9. Event Sponsorship and Participation
- Sponsor or participate in major travel and aviation events to increase brand visibility.
- Utilize these events to launch new routes, showcase innovations, and engage with industry stakeholders.
10. Customer Reviews and Testimonials
- Actively encourage satisfied customers to leave positive reviews on review platforms.
- Showcase customer testimonials in marketing materials to build trust and credibility.
11. Localized Marketing Campaigns
- Tailor marketing campaigns to specific regions and cultures, considering local preferences and trends.
- Use localized content and language to connect with diverse audiences.
12. Data Analytics for Targeting
- Utilize data analytics to track and analyze customer behavior, preferences, and engagement.
- Optimize marketing strategies based on actionable insights obtained from data.
13. Crisis Communication Planning
- Develop a crisis communication plan to address any unforeseen issues promptly and transparently.
- Ensure that marketing messages align with crisis communication strategies during disruptions.
14. Customer Engagement Platforms
- Launch interactive platforms, such as a mobile app or online community, to foster ongoing engagement.
- Provide real-time updates, travel tips, and exclusive offers to keep customers connected.
15. Employee Brand Advocacy
- Encourage employees to become brand advocates by sharing positive experiences and stories.
- Train staff to embody the brand values and contribute to positive word-of-mouth marketing.
16. Continuous Monitoring and Optimization
- Implement tools for continuous monitoring of marketing performance.
- Regularly optimize campaigns based on key performance indicators (KPIs) and customer feedback.
By implementing these strategies, Garuda Indonesia can effectively revamp its marketing efforts, attract more customers, and regain market share within the specified timeframe. The combination of targeted campaigns, digital engagement, and a customer-centric approach will contribute to achieving the set objectives.
IV.
Operational Issues
Objective: Reduce operational costs by a minimum of 10% while maintaining safety and service standards within the next two years, ensuring positive EBITDA.
Conduct a thorough operational efficiency review, identifying areas for improvement.
Streamline processes, negotiate better contracts with suppliers, and invest in fuel-efficient technologies. Optimize route planning and fleet management to minimize operational expenses.
Prioritize cost-cutting initiatives that do not compromise safety or service quality. Regularly review performance metrics and financial reports to ensure positive EBITDA.
1. Cost Structure Analysis
- Conduct a comprehensive review of all operational costs, including fuel, maintenance, labor, and overhead expenses.
- Identify fixed and variable costs, understanding the impact of each on the overall budget.
- Prioritize areas with the highest costs and potential for optimization.
2. Fleet Rationalization
- Evaluate the entire fleet's performance, considering factors such as fuel efficiency, maintenance costs, and seating capacity.
- Consider downsizing or standardizing the fleet to reduce maintenance complexity and operational expenses.
- Prioritize the acquisition of fuel-efficient and environmentally friendly aircraft.
3. Fuel Efficiency Programs
- Implement regular maintenance schedules for aircraft engines to ensure optimal performance and fuel efficiency.
- Utilize advanced technologies like winglets and aerodynamic modifications to enhance fuel efficiency.
- Invest in modern avionics and navigation systems for more precise flight planning.
4. Maintenance Optimization
- Transition to predictive maintenance using data analytics to anticipate component failures.
- Explore partnerships with third-party maintenance providers to optimize costs.
- Implement a proactive approach to aircraft maintenance, reducing unplanned downtime.
5. Workforce Optimization
- Conduct a thorough workforce analysis, considering staffing levels in various departments.
- Implement flexible staffing models that align with fluctuating demand.
- Prioritize upskilling and cross-training to enhance the capabilities of existing staff.
6. Supply Chain Efficiency
- Negotiate contracts with suppliers for bulk purchasing and favorable terms.
- Establish strategic partnerships with key suppliers to streamline the supply chain.
- Implement inventory management systems to prevent overstocking or stockouts.
7. Digitalization of Operations
- Invest in digital solutions for crew scheduling, reducing administrative overhead.
- Implement real-time monitoring systems for aircraft and ground operations.
- Integrate digital tools for paperless cockpit operations and flight planning.
8. Route Optimization
- Analyze the profitability of each route and adjust schedules accordingly.
- Utilize data analytics to identify high-demand routes and optimize flight frequencies.
- Consider seasonal adjustments to match capacity with demand fluctuations.
9. Lean Management Principles
- Train employees on lean management principles, focusing on waste reduction and process efficiency.
- Establish cross-functional teams to identify and implement operational improvements.
- Foster a culture of continuous improvement with regular reviews and feedback loops.
10. Customer Self-Service Options
- Enhance the online booking system for a seamless passenger experience.
- Implement self-service kiosks at airports for check-in and baggage handling.
- Integrate mobile apps for boarding passes, flight updates, and customer support.
11. Energy Efficiency Initiatives
- Implement energy-efficient practices in ground operations, terminals, and administrative offices.
- Invest in energy-efficient technologies, such as LED lighting and energy-efficient HVAC systems.
- Explore the use of renewable energy sources for ground operations.
12. Negotiation and Cost Control
- Train procurement teams in negotiation techniques to secure favorable terms with suppliers.
- Implement strict cost controls, including regular budget reviews and variance analyses.
- Establish a centralized procurement system for better cost management.
13. Safety Training and Awareness
- Prioritize safety training programs for all employees, emphasizing a safety-first culture.
- Conduct regular safety drills and simulations to ensure preparedness for emergencies.
- Encourage reporting of safety concerns and incidents for continuous improvement.
14. Utilization of Data Analytics
- Invest in data analytics tools to monitor and analyze operational performance.
- Implement predictive analytics to identify potential issues before they impact operations.
- Use data-driven insights for informed decision-making across departments.
15. Flexible Pricing Strategies
- Implement dynamic pricing models based on demand forecasting and market conditions.
- Offer promotions during off-peak periods to stimulate demand.
- Regularly review and adjust pricing strategies based on market dynamics.
16. Strategic Partnerships and Alliances
- Explore opportunities for collaboration with other airlines to share resources.
- Negotiate joint ventures for shared services, including ground handling and maintenance.
- Leverage partnerships to access cost-effective solutions for shared challenges.
17. Regular Performance Reviews
- Establish a performance review schedule to assess the impact of implemented reforms.
- Solicit feedback from employees and stakeholders for continuous improvement.
- Adjust strategies based on performance data and changing market conditions.
18. Government Support and Incentives
- Engage with government authorities to explore financial incentives or tax breaks.
- Advocate for policies that support a conducive operating environment for the aviation industry.
- Participate in industry forums to contribute to regulatory discussions.
Expected Outcomes
- Operational Cost Reduction : Achieve a minimum 10% reduction in operational costs within the specified two-year timeframe by implementing these comprehensive operational reforms.
- Positive EBITDA : By optimizing costs and improving operational efficiency, the proposal aims to achieve a positive EBITDA, indicating profitability and financial sustainability.
Regular monitoring, adaptability to industry changes, and a commitment to continuous improvement will be critical for the success of these operational reforms at Garuda Indonesia. The proposed strategies are designed to address multiple facets of operations, ensuring a balanced approach to efficiency and cost-effectiveness while maintaining safety and service standards.
V.
Business Expansion
Objective: Launch services to three new international destinations with proper feasibility studies and your solution to increase cargo revenue by 25% in the next three years.
Expanding business while managing financial constraints requires strategic planning and a focus on sustainable growth. Here's a detailed plan for Garuda Indonesia to launch services to three new international destinations and increase cargo revenue by 25% in the next three years :
1. Feasibility Studies
- Conduct thorough feasibility studies for potential international destinations.
- Assess market demand, competition, regulatory requirements, and operational considerations.
- Prioritize destinations with high demand, limited competition, and potential for cargo growth.
2. Partnerships and Alliances
- Explore partnerships with other airlines for codeshare agreements to expand the route network.
- Collaborate with international carriers for joint ventures in key markets.
- Leverage global alliances for shared resources and marketing efforts.
3. Cargo Fleet Optimization
- Assess the current cargo fleet and its capacity for international expansion.
- Optimize cargo aircraft utilization for maximum efficiency.
- Consider leasing additional cargo planes based on demand projections.
4. Technology Integration
- Implement advanced cargo management systems for real-time tracking and optimization.
- Utilize data analytics to identify cargo demand trends and optimize routes.
- Enhance online booking and tracking capabilities for customers.
5. Operational Efficiency
- Streamline cargo handling processes at airports to reduce turnaround times.
- Implement efficient ground handling procedures to minimize costs.
- Explore opportunities for shared cargo facilities at key international airports.
6. Customs and Regulatory Compliance
- Ensure compliance with international customs and regulatory requirements.
- Establish strong relationships with customs authorities in target destinations.
- Implement streamlined processes to expedite customs clearance.
7. Diversification of Cargo Services
- Introduce specialized cargo services to cater to specific industries (e.g., pharmaceuticals, perishables, e-commerce).
- Offer value-added services such as temperature-controlled shipping, express deliveries, and door-to-door services.
8. Market Research and Demand Forecasting
- Conduct in-depth market research in target destinations to understand cargo demand.
- Utilize demand forecasting models to project future cargo volumes.
- Align cargo services with the specific needs of each market.
9. Strategic Marketing Campaigns
- Develop targeted marketing campaigns to promote new cargo services.
- Highlight the unique selling points and capabilities of Garuda Indonesia's cargo offerings.
- Collaborate with industry influencers and logistics partners to amplify marketing efforts.
10. Government and Industry Partnerships
- Engage with government authorities in target countries to facilitate smooth operations.
- Collaborate with industry associations and trade bodies to stay updated on market trends.
- Leverage diplomatic channels for support in regulatory approvals and market entry.
11. Flexible Pricing Strategies
- Implement dynamic pricing models based on cargo demand fluctuations.
- Offer competitive pricing to attract customers while ensuring profitability.
- Introduce loyalty programs or discounts for frequent cargo shippers.
12. Risk Mitigation Strategies
- Identify potential risks associated with international expansion and cargo operations.
- Develop contingency plans for unexpected challenges, such as geopolitical issues or natural disasters.
- Invest in insurance coverage to mitigate financial risks.
13. Customer Engagement and Education
- Engage with existing and potential cargo customers through targeted communication.
- Educate customers about the benefits of Garuda Indonesia's cargo services.
- Seek feedback from customers to continuously improve service offerings.
14. Training and Development
- Provide training for cargo and ground handling staff to ensure proficiency in international operations.
- Develop a cross-cultural training program for personnel working on international routes.
- Foster a customer-centric culture among employees to enhance the overall customer experience.
15. Monitoring and Evaluation
- Establish key performance indicators (KPIs) to measure the success of the expansion.
- Regularly monitor cargo revenue, customer satisfaction, and operational efficiency.
- Conduct periodic reviews to assess the performance of new international routes.
Expected Outcomes
- New International Destinations : Successfully launch services to three new international destinations based on feasibility studies and market demand assessments.
- Cargo Revenue Increase : Achieve a 25% increase in cargo revenue within the next three years by optimizing operations and expanding services.
By implementing these strategies, Garuda Indonesia can strategically expand its business internationally, tap into new markets, and boost cargo revenue while managing current financial constraints. The focus on feasibility studies, partnerships, operational efficiency, and customer engagement will contribute to the success of this business expansion initiative.
CONCLUSION
In conclusion, Garuda Indonesia, the flag carrier of Indonesia, has traversed a complex journey marked by significant achievements and formidable challenges. Its growth from its establishment in 1949 to becoming a major player in the aviation industry, reaching a peak in 2018, is commendable. However, the airline's recent struggles, intensified by the profound impact of the Covid-19 pandemic, internal issues like corruption, and a substantial debt burden, have led to its Chapter 15 bankruptcy filing in 2022.The proposed comprehensive solutions encompass debt restructuring, service enhancement, targeted marketing, operational efficiency, and strategic business expansion. These strategies, if implemented effectively, offer a pathway for Garuda Indonesia's revitalization. Success will hinge on meticulous execution, continuous monitoring, and adaptability to navigate the dynamic aviation landscape.Garuda Indonesia's ability to address both internal and external challenges, reestablish financial stability, and regain its status as a leading airline will be a testament to its resilience and strategic acumen. The coming years will be critical, requiring concerted efforts, transparent communication, and a commitment to excellence for the airline to soar again.
REFERENCES
https://chat.openai.com/c/48e4c729-9449-44d7-ac8e-46478175fffd https://youtu.be/6zdHlgFNhUo?si=dVe8gwys7SLa3B37
Laporan Tahunan - Garuda Indonesia (garuda-indonesia.com)
