Abstract
The growth of the national aviation industry has been quite rapidly in last view times. Along with this condition, there are only few of airline companies are able to survive, which are supported by strong financial conditions and good corporate management. PT Garuda Indonesia (Persero) Tbk a flag carrier that is able to maintains its existence until now. This study aims to analyze the financial performance of PT Garuda Indonesia (Persero) Tbk for the period of 2013-2017 using financial ratio analysis based on minister of BUMN decree number: KEP-100 / MBU / 2002, trend analysis and analysis of the potential bankruptcy of the Altman’s Z-Score model. The data analysis method used in this study was descriptive quantitative. Data processing was performed using Microsoft Excel 2013 and Minitab 17 software. The results of the study indicate financial performance of PT Garuda Indonesia (Persero) Tbk for the period 2013-2017 tends to decrease and the value of Z-Score obtained has great potential for bankruptcy.
Highlights
The growth of the national aviation industry has been quite rapidly in last view times
CSR: Cash Ratio CR: Current Ratio CP: Collection Periods PP: Perputaran Persediaan Total Asset Turn Over (TATO): Total Assets Turn Over TMS: Total Modal Sendiri TA: Total Aset
Jakarta: PT Garuda Indonesia (Persero) Tbk. Badan Usaha Milik Negara [internet]
Summary
Tidak banyak perusahaan maskapai penerbangan yang mampu bertahan, jika tidak didukung oleh finansial yang kuat dan manajemen perusahaan yang baik. Sejak tahun 2012 Citilink resmi memisahkan diri dari manajemen PT Garuda Indonesia (Persero) Tbk setelah mendapatkan sertifikat Air Operation Certificate (AOC). Selanjutnya adalah Lion Group mencakup tiga maskapai utama yakni Lion Air untuk LCC, Batik Air di kelas FSA, dan Wings Air untuk rute pendek yang menjangkau wilayah terluar.Sriwijaya Group terdiri atas dua maskapai yakni Sriwijaya Air dan Nam Air. Sedangkan untuk Air Asia Indonesia, berinduk pada perusahaan Malaysia. Sisanya hanya menjadi maskapai perintis dan menerbangi sebagian kecil rute di wilayah terluar Indonesia. Berikut Tabel 1 mengenai penumpang dan pangsa pasar (domestik dan internasional) pada maskapai penerbangan nasional tahun 2017. Penumpang dan pangsa pasar (domestik dan internasional) maskapai nasional tahun 2017
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