GARUDA INDONESIA AND SINGAPORE AIRLINES PROPOSE JOINT VENTURE AGREEMENT TO DEEPEN COMMERCIAL PARTNERSHIP

 by Priya Jadhav

Garuda Indonesia (GA) and Singapore Airlines (SIA) today announced plans to enter into a joint venture arrangement that would deepen the cooperation between the two carriers, increase passenger capacity between Singapore and Indonesia, and offer customers more travel options between the two countries.

Subject to regulatory approvals, the proposed joint venture will cover routes between Singapore and Denpasar, Jakarta, and Surabaya. This will expand on the Memorandum of Understanding (MoU) that the two airlines signed in November 2021.

It would allow Garuda Indonesia and Singapore Airlines to potentially coordinate schedules between Singapore and Indonesia, offering customers more seamless flight connectivity between the two countries and beyond. The carriers will also explore the implementation of new initiatives, including joint fare products and an alignment of corporate programmes to enhance the value proposition to customers.

Please refer to Annexe A for more information on the partnership.

Mr Irfan Setiaputra , President and Chief Executive Officer, Garuda Indonesia, explained, “With the existence of more than a decade of collaboration between these two national flag carriers, this joint venture agreement, as a further milestone of the partnership expansion initiative,  will certainly strengthen the commitment between the two carriers simultaneously, delivering a seamless and valuable flying experience to both our customers across the globe.”

“The joint venture agreement is also a part of our effort to improve our company’s performance through our network strategy by optimising our network through partnernship with our strategic airline partners, especially Singapore Airlines. With this initiative, both airlines agreed to further explore more advantages for both our customers, allowing them to enjoy various flight schedules with enhanced value services within the networks of Garuda Indonesia and Singapore Airlines.

“On top of that, this deepening relationship may also strengthen tourist flows between Indonesia and Singapore, which makes it easier for international tourists to create their remarkable South East Asia journey – visiting the uniqueness of Singapore, and exploring the exoticism of Indonesia’s multiculturalism while enjoying the beauty of the scenery across the islands in Indonesia that awaits.”

Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: “This joint venture will be a win-win arrangement that elevates the long-standing partnership between Garuda Indonesia and Singapore Airlines. It reflects our firm commitment to grow the aviation markets in Indonesia and Singapore, facilitating a greater level of business and people connections and promoting both countries as regional tourism destinations. Our customers will also enjoy even more benefits, including an improved level of network connectivity, enhanced travel convenience, and additional fare options.” 

About Garuda Indonesia : Presenting a new level of service excellence in air travel, Garuda Indonesia­­−the flagship carrier of Indonesia− new and a member of array of exotic destinations in the beautiful archipelago of Indonesia. Garuda Indonesia proudly serves its passengers with award winning “Garuda Indonesia Experience” which embody Indonesian Hospitality and Indonesia’s rich, diverse culture.

With its service value #BecauseYouMatter, Garuda Indonesia commits to providing a safe and comfortable journey for passengers by consistently implementing our health protocols policy at all service touchpoints. Stay update with our information through our social media Instagram @garuda.indonesia, Twitter @IndonesiaGaruda, and Facebook Garuda Indonesia or visit www.garuda-indonesia.com. 

About Singapore Airlines : The SIA Group’s history dates back to 1947 with the maiden flight of Malayan Airways Limited. The airline was later renamed Malaysian Airways Limited and then Malaysia-Singapore Airlines (MSA). In 1972, MSA split into Singapore Airlines (SIA) and Malaysian Airline System. Initially operating a modest fleet of 10 aircraft to 22 cities in 18 countries, SIA has since grown to be a world-class international airline group that is committed to the constant enhancement of the three main pillars of its brand promise: Service Excellence, Product Leadership and Network Connectivity.

SIA is the world’s most awarded airline. In 2023, SIA was again named in Fortune Magazine’s list of the 50 most admired companies in the world. SIA is the highest ranked Asian company and the only Singapore-based brand in the list. In February 2023, SIA was named Airline of the Year in the Air Transport World Airline Industry Awards. This accolade recognised SIA’s outstanding performance, innovation, and superior service within the airline industry. For more information, please visit www.singaporeair.com.