Garuda Indonesia, the national carrier of Indonesia, is planning to significantly increase its ownership in GMF AeroAsia, a company that specializes in aircraft maintenance. Currently, Garuda holds 27.4% of the shares in GMF AeroAsia, but it aims to raise this to 93.2% through a major financial transaction. This move involves an additional contribution of 65.77% in the company, which Garuda already manages operationally. The plan is expected to be put to a vote by shareholders on November 6. As part of the transaction, Danantara Asset Management, an investment firm, will provide 82.1 billion shares of GMF AeroAsia, valued at 5,660 billion rupiahs. These shares must first be transferred from Angkasa Pura Indonesia, a state-owned airport management company, to InJourney, a private equity firm, before being handed over to Danantara. This complex transfer of shares is intended to enable Garuda to strengthen its financial position, manage its assets more efficiently, and support its ongoing transformation strategy. GMF AeroAsia was originally established in 2002 as a separate subsidiary of Garuda Indonesia, based on the carrier's existing aircraft maintenance operations. Over the years, the company has undergone several changes in ownership. In December 2025, Garuda's stake was reduced to 27.44% after a capital increase in GMF AeroAsia. This increase was funded by Angkasa Pura Indonesia through a land contribution at the Soekarno-Hatta International Airport in Jakarta, which includes the locations of GMF AeroAsia's hangars. This proposed increase in ownership by Garuda Indonesia reflects a strategic move to consolidate control over a key part of its operations. By acquiring a larger share in GMF AeroAsia, Garuda aims to ensure greater stability and control over its maintenance services, which are critical to the airline's overall performance and reliability. The transaction is expected to have significant implications for both Garuda and the broader aviation sector in Indonesia.