BANDUNG – Irfan Setiaputra, CEO of PT Garuda Indonesia (Persero) Tbk (GIAA), has been awarded "The Best CEO" with a special mention for "Inspirational Leadership in the Aviation Industry." The recognition was bestowed by Tempo and IDN Financials during the 2024 Top CEO Indonesia Awards, held at the Pullman Grand Central Bandung on Friday, November 15.

Setiaputra has successfully guided Garuda Indonesia through the global crisis brought on by the Covid-19 pandemic. Over the past four years, the airline has reduced short-term liabilities and improved its asset deficiency through debt restructuring with creditors and lessors.

In 2023, Garuda's total short-term liabilities fell by 30.69% to USD 1.16 billion, down from USD 1.68 billion in 2022. Meanwhile, its asset deficiency improved by 16.48%, decreasing to USD 1.28 billion from USD 1.53 billion. The airline also posted a net profit of USD 250 million.

In addition to this financial turnaround, Garuda Indonesia saw a rebound in passenger numbers following the decline caused by travel restrictions during the pandemic. The airline's total operating revenues grew by 39.80% to USD 2.93 billion in 2023, up from USD 2.10 billion in 2022. Scheduled flights contributed a 41% increase to Garuda's overall revenue.

Garuda has also implemented several environmentally-friendly initiatives, including the use of recycled plastic materials in flight and testing sustainable aviation fuel (SAF). These efforts have led to a reduction of 26.1 tons of plastic waste and 65.2 tons of carbon emissions per year.

Further environmental programs include the use of linen for headrest and pillow covers, as well as efforts to reduce paper usage for documents and flight manuals.

The implementation of these green initiatives has not only inspired the broader public but also other airlines operating in Indonesia. These achievements are a testament to the efforts of Garuda Indonesia's management team under Setiaputra's leadership.

In 2023, Irfan Setiaputra was also named "The Most Admired CEO in Turnaround" during the Top CEO Indonesia Awards in Bali, where he was recognized alongside 43 other CEOs from various sectors listed on the capital market. (LK)