Yusril Calls for Audit of Garuda - Sriwijaya Air Partnership



Petir Garda Bhwana

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  • TEMPO.CO, JakartaSriwijaya Air demanded an audit of the operations partnership with Garuda Indonesia. The business relations between the two carriers had lasted for almost a year.

    An advocate Yusril Ihza Mahendra, who is also one of the shareholders of Sriwijaya, said that he doubted the management of Sriwijaya under the Garuda Indonesia Group since November 2018. Also, Yusril questioned the payment of Sriwijaya’s debts while its management was taken over by Garuda.

    “Garuda claimed that under its management, Sriwijaya’s debt dropped by 18 percent. We did not believe it too, so please audit it,” said Yusril as quoted from Bisnis, Sunday, November 10.

    Additionally, Garuda claimed that under its management, Sriwijaya’s performance increased. After incurring losses up to Rp1.6 trillion in 2018, Sriwijaya’s financial statements were reportedly made positive in the first quarter of 2019 along with improvements in management and corporate strategy.

    However, Yusril was still suspicious about the achievement considering during the partnership, Sriwijaya experienced more disadvantages, given many conflicts of interest between Garuda’s subsidiaries and Sriwijaya.

    According to Yusril, the performance of Sriwijaya under Garuda’s management through Citilink was not improved. Instead, the carrier was managed inefficiently, and there was financial profligacy.

    “We don’t believe [that Sriwijaya was better during the operations partnership]. So Pak Luhut [Coordinating Minister for Maritime Affairs and Investment] called on BPKP and independent auditors to examine [the business ties],” Yusril added.

    Previously reported, the business relations between Sriwijaya Air and Citilink Indonesia hit another rift. Garuda’s technical and service director Iwan Joeniarto said in a statement Thursday, November 7, that Sriwijaya Air was no longer a member of Garuda Indonesia Group.