Garuda opened at Rp456, up from yesterday's closing price of Rp454. The gain came in time with the SOE Ministry's decision to appoint Irfan Setiaputra as the airline's new president director.
Irfan's appointment was announced after an extraordinary general meeting of shareholders at the Garuda City Center (GCC) office within the Soekarno-Hatta International Airport complex, Tangerang.
Irfan replaced I Gusti Ngurah Askhara Danadiputra or Ari Askhara who was fired for his involvement in the smuggling of a Harley Davidson motorcycle.
The meeting also decided to appoint Triawan Munaf as Garuda's new Chief Commissioner and Chairal Tanjung as his deputy.
Meanwhile, Dony Oskaria is named vice president director of the flagship carrier.