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Journal : Jurnal Manajerial

Strategi Penciutan PT Garuda Indonesia Tbk Dalam Menghadapi Kesulitan Keuangan Kintan Rachmi Satyodriyani; Hesti Restarani; Popy Rufaidah
Jurnal Manajerial Vol 10 No 02 (2023): Jurnal Manajerial
Publisher : Program Studi Manajemen Universitas Muhammadiyah Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30587/jurnalmanajerial.v10i02.5459

Abstract

Background – PT Garuda Indonesia (Persero) Tbk has been facing financial distress for the last five years. This is indicated by a significant loss in the amount of annual income. The revenue from operational activities has not been able to provide a profit for the company because of the high operating expenses that must be incurred. Aim – This study aims to find out how PT Garuda Indonesia (Persero) Tbk overcomes the current financial distress through the implementation of a retrenchment strategy. Design / methodology / approach – This study uses a case study method by analyzing sources from the implementation of the retrenchment strategy at PT Garuda Indonesia. The type of data used is secondary data in the form of annual reports and financial statements of the company which is analyzed qualitatively. Findings – PT Garuda Indonesia is one of the airlines that implements a retrenchment strategy in overcoming the problem of financial distress to increase the company's profitability. The type of retrenchment strategy implemented is a turnaround strategy and a captive company strategy. Conclusion - The implementation of the turnaround strategy is realized through the contraction strategy, consolidation strategy, and outsourcing strategy. The implementation of the captive company strategy is realized through the sole supplier strategy, preferred provider strategy, and contract grower strategy. Research implication – The results of this research are expected to be a consideration for the management of other airlines that are facing similar financial distress so that the company can maximize revenue and maintain business continuity in the aviation industry. Limitations – The limitation of this study is that the analysis is only carried out on data sourced from documentation and literature related to the retrenchment strategy that has been implemented by PT Garuda Indonesia in overcoming the problem of financial distress
Co-Authors A.Fadel Muhammad Addinna, Dian Alizha, Nabila Nurul Alvi Diani Khoirunissa Andre Bagus Pramudita Andreas Recki Prasetyo Anggie Lia Andini Anggita Ulfazia Rahmi Anna Destriana Firmialy Samsura Apriharviyanto, Raden Muhammad Firdaus Aryo Wicaksono Asyrifah, Vita AYU NINGSIH Budiman, Muhammad Fatiha Rizki Cucu Zubaedah Dandi Ramadhan, Muhammad Dudi Aripin Edy Supriyadi Eka Putri, Laila Febriyuni Fadhiilah, Putri Farah Fauziah Nur Septiani Harimurti, Wibisono Henni, Carmel Novella Hesti Restarani I Gusti Ngurah Bagus Sucitra Indradi, Dimas Ariowibowo Ismudiar, Wahdan Kukuh Jochanan Benaya Lumban Tobing Khalisa Balqis Khoirun Nisa Bahri Khoirunissa, Alvi Diani Kintan Rachmi Satyodriyani Kirana, Larisa Safa laras Puspa Kirana Lestari, Feni Ayu Luki Ramdani Luthfiyyah, Adinda Rizki Lysandra Priscilla Maria Prisila Paru Maryam Hafidzah Mega Prasanti, Natalia Muhammad Affan Gaffar Muhammad Aulia Rahman Muhammad Daffa Lazuardi Muhammad Rijal Fathurrahman Nadia Meirani Natalia Mega Prasanti Nathan Giharis Nurhasanah Nurhasanah Nursyamsi, Yusriyah Amelia Olivia Alvira Aurellia Paru, Maria Prisila Pauziah, Stani Sahala Prasetyo, Andreas Recki Purwandari, Fani Mutyaning Putri Tresnawati Ramdani, Luki Ratna Asri Solihati Rivaldi Arissaputra Rivaldi Arissaputra Salimah, Salma Salma Dhianita Sari, Lira Mustika Sarwono, Karenina Tryagustian Sentika, Sarah Shelly Eka Agustina Sri Mulyati Sri Tjahajawati Sutisna - Umar, Nurfadillah Ramadhani Valiri Zulfikar , Iqbal Wyanda, Egidya Zalfa, Velian Zenita Apriani