THE EFFECTS OF MERGERS & ACQUISITIONS BETWEEN GARUDA INDONESIA GROUP AND SRIWIJAYA AIR GROUP TOWARDS INDONESIAN DOMESTIC AVIATION MARKET

ARICA ANDARA, T. Hani Handoko, M.B.A., Ph.D.

2020 | Tesis | Magister Manajemen

Aliansi dan kemitraan dalam industri penerbangan merupakan praktik yang umum dilakukan oleh maskapai penerbangan. Di balik merger dan akuisisi, biasanya terdapat beberapa motif yang mendasari terjadinya hal tersebut. Penelitian ini berfokus pada pasar maskapai penerbangan di Indonesia. Beberapa waktu yang lalu, sebuah grup maskapai yang dimiliki oleh pemerintah Indonesia, Garuda Indonesia Group, melakukan merger dengan grup maskapai swasta, yaitu Sriwijaya Air Group. Penelitian ini menganalisa dampak eksternal dari merger dan akuisisi antara dua grup maskapai penerbangan Indonesia, Garuda Indonesia Group dan Sriwijaya Air Group. Penelitian ini akan didasarkan pada literatur sebelumnya tentang merger dan akuisisi di industri penerbangan serta motif merger dan akuisisi itu sendiri. Studi ini akan menyoroti beberapa efek dari pasca-merger dan akuisisi di pasar penerbangan domestik Indonesia setelah kompetisi duopoli muncul. Pada akhir penelitian, akan diilustrasikan bagaimana kondisi penerbangan domestik Indonesia di masa yang akan datang.

Alliances and partnerships within the airline industry are common practices done by its players. Behind the merger and acquisition, there are usually some underlying motives that cause this event to occur. In this research, the study will focus on the Indonesian airline market. Recently, the government-stated owned enterprise, Garuda Indonesia Group, merged with a private-owned company named Sriwijaya Air Group. This research analyzes the external effects of mergers and acquisitions between two Indonesian airline groups; Garuda Indonesia Group and Sriwijaya Air Group. The research will be based on the previous literature about mergers and acquisitions in the airline industry as well as the motives of the mergers and acquisitions itself. The study will highlight some effects of the post-mergers and acquisitions in the Indonesian domestic market after the duopoly competition arises. At the end of the research, it will be illustrated the future Indonesian domestic aviation and the competition will be. Keywords: Airline Mergers and Acquisitions, Airlines Industry, Domestic Airline Industry, Domestic Flights, Garuda Indonesia Group, Sriwijaya Air Group

Kata Kunci : Merger and Akuisisi Maskapai Penerbangan, Industri Maskapai Penerbangan, Pasar Domestik Maskapai Penerbangan, Penerbangan Domestik, Garuda Indonesia Group, Sriwijaya Air Group