GMF and FTAI Strengthen Collaboration in Engine Maintenance Business Across Asia-Pacific

SINGAPORE and NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) -- PT Garuda Maintenance Facility Aero Asia Tbk (GMF), part of Garuda Indonesia Group, and FTAI Aviation Ltd. (Nasdaq: FTAI) have strengthened their strategic collaboration to build a long-term partnership focused on expanding GMF’s Engine and APU maintenance capacity and capabilities, while strengthening its market presence across Asia-Pacific. The collaboration will initially cover CFM56-5B and CFM56-7B engines and GTCP131-9 series APUs, with guaranteed capacity for FTAI over the next five years. The strategic collaboration was formalized during MRO Asia-Pacific 2026 at Singapore EXPO, Singapore.

Building on an existing relationship in which GMF provides engine maintenance services for FTAI, the strategic partnership provides a foundation to progressively expand into deeper module and piece-part capabilities and next-generation engines, including CFM LEAP.

Andi Fahrurrozi, GMF CEO, stated, “This collaboration responds to growing engine maintenance demand from FTAI, its customers, and the broader aviation market across the region by leveraging GMF’s existing MRO capabilities and capacity. Supported by the technical expertise of both parties, this collaboration will enable us to broaden our customer base across Asia-Pacific and globally, while progressively strengthening our capabilities and capacity to meet evolving market needs.”

“GMF has been a trusted engine maintenance partner to FTAI and this collaboration builds on that relationship with dedicated capacity for our customers across the Asia-Pacific,” said David Moreno, President of FTAI. “The region is home to a large and growing share of our customer base. Bringing committed engine volumes to GMF puts maintenance capacity closer to those customers with faster turnaround times. Backed by an established facility, a skilled workforce and FTAI's technical support, GMF is well positioned to expand into module and piece-part repair and help extend the life of the CFM56 engine.”

With its existing facility, qualified technicians and engineers, quality systems, tools, and equipment, GMF provides an established MRO platform for the partnership. FTAI’s technical expertise and training support will reinforce GMF’s technical capabilities and manpower development. At the same time, the additional workload generated by FTAI and its customers will create further opportunities to accelerate the expansion of the engine maintenance business.

The collaboration is also expected to strengthen the engine MRO supply chain by improving access to materials, spare parts, and components, while creating opportunities to enhance availability and cost.

Looking ahead, the strategic collaboration opens opportunities for GMF to serve as a key regional MRO partner for FTAI and its customers across the Asia-Pacific, with a shared long-term vision to build a competitive and sustainable engine maintenance business

“This collaboration is designed to address customer needs for maintenance slot availability, improved turnaround times, consistent quality, and flexibility. We aim to deliver more competitive MRO solutions for customers across the region. Together with FTAI, we also look forward to exploring broader strategic collaboration opportunities beyond our existing business,” Andi concluded.

About GMF

PT Garuda Maintenance Facility Aero Asia Tbk (GMF) is a company engaged in aircraft maintenance, repair, and overhaul (MRO), as well as industrial services. As Indonesia’s largest MRO provider, GMF brings 77 years of experience in the aviation industry. GMF was initially established as the Technical Division of PT Garuda Indonesia (Persero) Tbk at Soekarno-Hatta International Airport. GMF has served more than 190 customers from over 70 countries worldwide. In conducting its business activities, GMF has obtained certifications from aviation authorities in more than 30 countries, including the Federal Aviation Administration (FAA) of the United States, the European Union Aviation Safety Agency (EASA), and the Directorate General of Civil Aviation (DGCA) of Indonesia. In 2017, GMF became a publicly listed company on the Indonesia Stock Exchange under the ticker code GMFI. Today, GMF is expanding its business into power services, the defense industry, and aerostructure. Through these expansions, GMF aims to realize its vision of becoming the most valuable MRO company by delivering integrated and reliable maintenance solutions as part of its contribution to the nation.
About FTAI

FTAI combines advanced turbine technology and asset ownership to power the world’s most essential markets. Additional information is available at https://www.ftaiaviation.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to expansion into deeper module and piece-part capabilities and next-generation engines, including CFM LEAP, to broaden GMF’s customer base across Asia-Pacific and globally, while progressively strengthening capabilities and capacity to meet evolving market needs, creation of further opportunities to accelerate the expansion of the engine maintenance business, strengthening the engine MRO supply chain by improving access to materials, spare parts, and components, while creating opportunities to enhance availability and cost, and opening opportunities for GMF to serve as a key regional MRO partner for FTAI and its customers across the Asia-Pacific. These statements are based on GMF’s and FTAI’s management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond GMF’s and FTAI’s control. GMF and FTAI can give no assurance that their respective expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in FTAI’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on FTAI’s website (www.ftaiaviation.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for GMF and FTAI to predict or assess the impact of every factor that may cause actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. GMF and FTAI expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in GMF’s and FTAI’s expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities. Nothing on FTAI’s website is included or incorporated by reference herein.

GMF Media Contact:

Khairani Windyaningrum
Corporate Communications & CSR Division Head
P: +62 822 1667 8282
E: khairani@gmf-aeroasia.co.id / corporatecommunications@gmf-aeroasia.co.id

FTAI:

Charlie Arestia
Investor Relations
(646) 276-4418
ir@ftaiaviation.com

Media:
Tim Lynch / Kelly Sullivan
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449