GMF Agrees on Strategic Partnership with KORR Group At The End of 2017

PT Garuda Maintenance Aero Asia Tbk. (GMF) launches a strategic partnership in the Indonesia-Australia corridor.

GMF announced the signing of a Strategic Partnership Agreement with the Korr Group to collectively expand their Australia-Indonesia footprint. The signing of this strategic partnership contract is a follow up of the Memorandum of Understanding which was signed on June 2, 2017 between the parties. As part of this Agreement, GMF and the KORR Group agreed to cooperate in Line Maintenance activities for Boeing 737, Boeing 787, Airbus A320 and Airbus A330 aircraft. Witnessed by GMF President Director Iwan Joeniarto, the Strategic Partnership signing was conducted by Tazar Marta Kurniawan as Director of Line Operations GMF AeroAsia and Bevan Coote as Director, Founder & Chairman of the KORR Group.

GMF AeroAsia President & CEO Iwan Joeniarto said that the cooperation with the Australian company is one of the key elements of GMF's "International Footprint" business expansion strategy. "We sincerely believe that this strategic partnership will be able to support GMF’s overseas expansion, especially in the Australian market with its high potential for the aircraft maintenance business, particularly in the line maintenance field," Iwan said. Meanwhile, Korr’s Founder and Chairman, Bevan Coote said that Korr welcomes the opportunity to cooperate with GMF and leverage it’s unique local skills and capabilities, collaborative work culture and high-quality infrastructure. "At KORR Group we work with harmony, deep mutual respect and professionalism. We found a lot of common ground with GMF in that respect” he added. This is an important milestone in our Asian expansion strategy which has also seen the launch of new offices in Singapore and Vietnam.

The next step of the signing of this strategic partnership is to take the execution of this collaboration to the next level in 2018. For the initial phases, GMF and KORR Group will collaborate in Line Maintenance work in Melbourne, Sydney and Perth. This cooperation is targeted at creating a compelling value proposition for attracting local and international airlines to this partnership.. GMF Director of Line Operation Tazar Marta Kurniawan said GMF's strategy to build a footprint in strategic locations is to get closer to high potential markets. "In term of quality, GMF can compete with other world-class MRO companies, we need greater market facing presence in order to accelerate our market penetration," said Tazar.

Tazar also added with GMF’s official strategic partnership with KORR Group for business expansion into Australia, it will support GMF’s pathway to expanding its business in order to achieve its vision of becoming one of the top 10 MRO companies in the world. "After Batam and South Korea, Australia is the third area explored, and immediately followed by the Middle East area and other markets thereafter," Tazar said.