STUDI KASUS COMMON SIZE DI PT GARUDA INDONESIA (PERSERO) Tbk

Abstract

The covid 19 pandemic has had a siginificant impact on the aviation industry globally, including those experienced by PT Garuda Indonesia (Persero) Tbk. The study aims to analyze the impact of the covid 19 pandemic on the financial performance of PT Garuda Indonesia (Persero) Tbk with the research method used is descriptive quantitative analysis by analyzing the financial reports of PT Garuda Indonesia (Persero) Tbk started in 2014-2023 or ten years in a row using a common size approach. The study focuses on identifying changes in financial proportions both before, during, and after the pandemic. The type of data in carrying out this research is secondary data obtained from the annual financial reports of PT Garuda Indonesia (Persero) Tbk from 2014-2023 at the Indonesia Stock Exchange by visiting the website

https://www.idx.co.id/id

. The result of the study showed a drastic decline in Garuda Indonesia’s financial performance in 2020-2021 marked by a fall in revenue to less than 1.5M from an average of 4.1M in previous years. Besed on common size calculations, it was revealed that a significant decrease in cash and cash equivalents, an increase in long-term liabilities that resulted in a negative equity position, the operating burden increased above 100% of the revenue is falling drastically, leading to a massive loss of 311% by 2021. In calculation, the covid 19 pandemic has greatly affectted Garuda Indonesia’s financial performance especially  in terms of revenue, liquidity and profitability. However, signs of recovery began to evercome the crisis, demonstrated by increased revenue and beginning to improve equity position even thought it has not yet returned to pre-epidemic levels.