Garuda Indonesia Tbk Research Articles

ANALISIS POTENSI FINANCIAL DISTRESS DENGAN MENGGUNAKAN ALTMAN Z SCORE PADA PERUSAHAN PENERBANGAN (DAMPAK PANDEMI COVID-19 DENGAN PENUTUPAN OBJEK WISATA DAN PSBB)

This study aims to identify and analyze the potential for financial distress in airlines at Indonesia. The object of this research is the airlines listed on the Indonesia Stock Exchange (BEI), namely PT. Garuda Indonesia Tbk and PT. AirAsia Indonesia Tbk. The data used is in the form of financial reports that have been published on the Indonesia Stock Exchange through the website (www.idx.co.id) in the first quarter of 2020 – third quarter of 2020. The data analysis technique uses the Altman Z Score in predicting potential financial distress. The results of the study found that PT Garuda Indonesia Tbk and PT AirAsia Indonesia Tbk were in financial distress or in an unhealthy financial condition, and were classified as companies that have the potential to experience bankruptcy. Research shows that PT AirAsia Indonesia Tbk has a higher potential for bankruptcy than PT Garuda Indonesia Tbk.

KISRUH LAPORAN KEUANGAN : BAGAIMANAKAH KINERJA KEUANGAN PT GARUDA INDONESIA TBK?

Garuda Indonesia Tbk is the best airline company in Indonesia. However, the chaos in Garuda Indonesia Tbk's financial statements that occurred in 2018 caused a decline in financial performance which was reflected in the company's stock price. This study was conducted to determine the financial performance of Garuda Indonesia Tbk seen from the effect of the liquidity ratio (current ratio) on the company's stock price with the profitability ratio (return on assets) as an intervening variable. The results showed that the liquidity ratio had an effect on Garuda Indonesia's stock price. However, the liquidity ratio does not affect the company's profitability. In addition, the profitability ratio also has no significant effect on stock prices. Finally, the profitability ratio is not able to mediate the effect of the liquidity ratio on the stock price of Garuda Indonesia Tbk.

Pengaruh Budaya Organisasi dan Komitmen Organisasi terhadap Kinerja Pegawai di PT. Garuda Indonesia Tbk

The purpose of this study was to analyze the influence of organizational culture and organizational commitment on employee performance at PT. Garuda Indonesia Tbk. The data used in this study are primary data with data collection methods, namely through questionnaires. The sample in this study were 60 employees at PT. Garuda Indonesia Tbk. The analysis technique in this research is through Multiple Linear Regression Analysis. The results of the analysis prove that organizational culture and organizational commitment simultaneously have a significant effect on employee performance at PT. Garuda Indonesia Tbk. Organizational culture and organizational commitment partially have a positive and significant effect on employee performance at PT. Garuda Indonesia Tbk
 Keywords: Organizational Culture; Organizational Commitment; Employee Performance.

Akibat Hukum Surat Pertanggungjawaban Laporan Tahunan Yang Tidak Ditandatangani Oleh Seluruh Dewan Komisaris

The purpose of this study is to analyze how the legal consequences of the annual report accountability letter were not signed by the entire Board of Commissioners of a limited liability company by looking at the case of PT. Garuda Indonesia Tbk which occurred in 2019. Where in that case there was a rejection by 2 (two) Commissioners from PT. Garuda Indonesia Tbk to sign the annual report at the General Meeting of Shareholders. The nature of this research uses normative research, namely by reviewing laws and regulations, as well as company case reports. Based on this case, the function of company organs in charge of supervising a company is not going well. The case shows that this organ does not carry out its supervisory function in accordance with Article 108 of the Limited Liability Company Law. The legal consequence in this case is the imposition of fines on the organ of the company that signs the annual report. This is a consequence of the collegiality of the responsibility of the Board of Commissioners in a limited liability company.

Analisis Representasi Gender Dalam Laporan Tahunan Perusahaan BUMN Sektor Jasa Di Indonesia Tahun 2016-2018

This study aims to provide an analysis and understanding of gender representation in the annual report of BUMN service sector companies in Indonesia. The object of this research is PT Adhi Karya Tbk, PT Garuda Indonesia Tbk, PT Gas Negara Tbk, PT Pembangunan Perumahan Tbk, PT Telekomunikasi Indonesia Tbk. This study uses a qualitative descriptive approach with secondary data types obtained from the Annual Report of Service Sector BUMN Companies in Indonesia. Data collection was carried out by using documentation techniques by collecting human photos in the company's annual report. The analytical method used is content analysis. The research steps are: 1) identifying photos of people in the annual report, 2) grouping photos according to employees or non employees, only men, only women, or men and women together, 3) description of the number of photos according to group, 4) interpret the research results contained in the annual report. The results show that the description of gender in the annual report of the BUMN Service Sector Company does not support equality between men and women. Employee photos in the annual report are dominated by men compared to women. Through the analysis of gender photos described in the annual report, it was found that male gender dominated in terms of roles, places, clothes and body language. However, in the analysis of relative positions, men and women are shown standing or sitting the same

PENYALAHGUNAAN WEWENANG JABATAN OLEH PEJABAT NEGARA/PEMERINTAH : PERSPEKTIF HUKUM ADMINISTRASI NEGARA DAN HUKUM PIDANA

On November, 17, 2019, it was reported that the President Director of PT Garuda Indonesia Tbk. I Gusti Ngurah Askhara (Ari Askhara) got involved in the illegal Harley Davidson motorcycle parts and Brompton bikes found in the Garuda Indonesia aircraft. He was fired from the position. The case of the illegal spare parts by the Customs and Excise officers on the Airbus A330-900 Neo aircraft with the flight number GA 9721 on Sunday November, 17, 2019 is one more abuse of power among so many similar cases done by state officers. The case proves that an official power is vulnerable to corrupt. Abuse of power is as old as the age of human civilization. Abuse of power is an unlawful act done by a person or people in an official capacity. Abuse of power breaks the article 3 of the Indonesian Law No. 31 Year 1999 jo the Indonesian Law No. 20 Year 2001, that is “Anybody who with the intention to earn profit for himself or another person or a corporation, abuses the authority, opportunity or facilities given to him on account of his post or position which may cause loss to the state finance or state economy, shall be sentenced to life imprisonment or a minimum sentence of 1 (one) year and a maximum of 20 (twenty years) or a minimum fine of ..." It is a qualitative research methodology with observation and literary review to collect data. The research concludes that state administration officials should have professionally technical skills and morality to do their duties. If they do not have them, they might be fired in the perspective of administrative law and be sentenced to life imprisonment in the perspective of criminal law.

BANKRUPTCY ANALYSIS OF NATIONAL AIRLINES COMPANIES IN REGIONAL ASIA AFTER COVID-19 PANDEMIC

The Corona Virus Disease (COVID-19) was declared a worldwide pandemic by the World Health Organization (WHO) on March 11, 2020. The main pandemic countermeasure with physical distancing and limitation to travel heavily damaged the airline industry around the world, which slumps the direct revenue to the company. Hence, the industry should utilize this tight cash flow and the volatility business due to high operating costs and the high cost of labor. This situation could be worsening to the various national carrier in Asia already performs poorly far before COVID-19. Therefore, this research will predict the bankruptcy of four national airline companies in regional Asia using a modified version of Altman Z Score and Zmijewski Model. This research will show the current and future condition of financial performance in each company. Those National Airlines, namely PT Garuda Indonesia Tbk. (IHSG: GIAA), Singapore Airlines Ltd. (SGX: CL6), Thai Airways International (BKK: THAI), and Eva Air (TPE:2618). This study's results indicate financial distress and possibly to be bankrupt for two national airlines company, especially in Garuda Indonesia and Thai Airways, compared to other selected national airlines. Thus, those financial distress companies should carefully allocate remaining assets, liquidate the unproductive entities, and perform a company reconstruction to avoid bankruptcy in the future. Keywords: covid-19, bankruptcy analysis, regional airlines industry, modified altman z-score, financial distress

Financial performance of PT. Garuda Indonesia Tbk period 2018-2019

Purpose: This study aims to determine the health level of the financial report of the performance of PT. Garuda Indonesia Tbk with the financial ratios of State-Owned Enterprises for the period 2018-2019. Research methodology: Researchers took the statement of financial position of profit and loss as a tool to assess the soundness of the financial performance of PT. Garuda Indonesia Tbk. Results: In accordance with Decree: KEP-100 / KBU / 2002, as a result, In 2018 PT. Garuda Indonesia Tbk was declared unhealthy with a “CCC” assessment in which the total score obtained from the financial aspect was 21 with a standard assessment of 20 ≤ TS ≤ = 30 with the category of assessment “CCC”. Meanwhile in 2019, PT. Garuda Indonesia Tbk was declared unhealthy with a “BB” rating in which the total score obtained from the financial aspect is 45 with a standard assessment of 40 ≤ TS ≤ = 50 with the category of rating “BB”. Limitations: Limitations of this research are: this study only took 2 years in the period 2018-2019, the sample taken in this study is a statement of financial position and income. Contribution: This study gives a contribution to policy input from the financial performance of PT. Garuda Indonesia Tbk Keywords: Financial, Performance, Ratios, Financial statements

Financial Analysis of Airlines As Air Cargo Terminal Operator (The Case of Garuda Indonesia)

PT. Garuda Indonesia Tbk is the only one of the airlines in Indonesia that operates as non-integrated cargo services and manages air cargo terminal service. This study aims to assess and evaluate the business model of airlines as an air cargo terminal operator. Correspondingly, to analyze the business model, the airline is run as an air cargo terminal operator on its own compared to if the cargo services outsourced to other parties at the terminal. The analysis will conduct by performing financial analysis and comparative study analysis. After that, scenario analysis will lead and decided the priority of air cargo business. The result is when the company decides to outsource the business to the other party is better than if they run by themselves. From scenario analysis results, it shows that all the scenarios of the outsourced still better compared to if they run their business by themselves.
 Keywords: Air Cargo, Terminal Operator, Financial Analysis, Warehouse Revenue, Comparative Study, Scenario Analysis

PENGARUH GAYA KEPEMIMPINAN, MOTIVASI BERPRESTASI, DAN PENGEMBANGAN KARIR TERHADAP KINERJA PEGAWAI PT. GARUDA INDONESIA TBK JAKARTA

This study aims to determine and analyze the influence of leadership style, achievement motivation and career development simultaneously or partially on the performance of employees. This research uses quantitative method. The research population is all employees of PT. Garuda Indonesia Tbk Jakarta amounts to 170 people. Sampling technique with Random sampling, and the number of samples determined by Slovin formula, obtained 119 respondents who were sampled. Data analysis using Multiple Linear Regression. The results showed that leadership style significantly influence employee performance, achievement motivation significantly influence the performance of employees, and career development significantly influence the performance of employees. While the results simultaneously showed that the style of leadership, achievement motivation, and career development have a significant effect on employee performance at PT. Garuda Indonesia Tbk Jakarta