REPUBLIKA.CO.ID, JAKARTA - Ministry of State Owned Enterprise is seeking prospective candidate to replace President and CEO of Garuda Indonesia (Persero) Emirsyah Satar. Satar's term of duty will expire in October 2014 after leading for two periods.

"There are at least four candidates competing to become the CEO," a source told to reporter on Monday.

The four candidates are Zulkifli Zaini (former President Director of Bank Mandiri), Kartika Wirdjoatmojo (Executive Director of the Deposit Insurance Agency), Elisa Lumbantoruan (former Director of Garuda Indonesia) and Elia Massa Manik (President Director of PT Elnusa Tbk, Pertamina's subsidiary). Previously, former President Director of PT Telkom, Rinaldi Firmansyah also circulated among journalists.

The five candidates must follow a series of fit and proper test in the Ministry. Minister of State Owned Enterprise, Dahlan Iskan signaled that Garuda's new boss must have high integrity in order to bring the company to a better condition.

"He should have the integrity, not corruption, nepotism and free from any intervention, including his family. The new boss should understand financial problems," Iskan said.

In the first half 2014, Garuda recorded a net loss of 211.7 million USD compared to 10.7 million USD in same period last year. The state owned airline company also recorded a comprehensive loss of 200.38 million USD in first half 2014 compared to 12.86 million in 2013.

The loss was caused an increase in foreign exchange losses up to 12.86 million USD in first half 2014 compared to 1.41 million USD in 2013, while the operating expenses increased 14.75 percentor 1.9 billion USD compared to 1.7 billion USD in last year. 

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