Garuda Indonesia (GA, Jakarta Soekarno-Hatta) has lost majority ownership of the ground handler Gapura Angkasa after one of the other shareholders, the state-owned airport services firm Angkasa Pura II, increased the proportion of its shareholding from 31.25% to 46.62% through a rights issue, an Indonesia Stock Exchange (IDX) disclosure dated November 25 said.

With the move, Angkasa Pura II has become the ground handler's controlling shareholder, with the other shareholders being Garuda Indonesia holding 45.62% and another airport operator, Angkasa Pura I, with 7.76%.

"As controlling shareholder, PT Angkasa Pura II is targeting PT Gapura Angkasa to improve by conducting various expansions and also encouraging the creation of efficiency in airline operations and airports," explained Muhammad Awaluddin, director of Angkasa Pura II on November 27, the Indonesian newspaper Investor Daily reported.

As one of the biggest ground handling service providers in Indonesia, Gapura Angkasa has prospects for further development, he elaborated.

"The focus for the future is to integrate the implementation of smart and connected airports in a single ecosystem between airside and landside airport operations," he said.

Gapura Angkasa operates at more than 55 airports in Indonesia, according to data cited by Investor Daily. In addition to ground handling, it provides warehousing and cargo services via its subsidiary Gapura Space.