PT Cardig Aero Service (CAS) provides aircraft ground handling services in 17 of Indonesia’s international airports, operated by its subsidiary Cardig Aero Destinations was recognized as one of the top 50 companies for 2016 by Forbes Indonesia Magazine, the company said in a statement on Friday (21/10).
The magazine gives recognition to listed Indonesia companies based for their performance and long-term financial performance.
Aside this main business, CAS has two other divisions: CAS Food, which provides catering services for airlines, mining companies, and other large businesses, and CAS Facility, which provides cleaning and facility management services for airlines, offices, hotels, malls, and industrial buildings. By division, 77% of the company’s revenues come from Cardig Aero Destinations, while CAS Food contributed 20% and CAS Facility was 3%, as per the first quarter (2015 full-year revenues were Rp 1.7 trillion).
The rapid growth of the aviation industry in Indonesia provides CAS with good prospects. “Because we serve airlines, our growth closely follows that of the industry at large,” says CAS Chief Executive Nurhadijono Nurjadin. “Indonesia’s aviation market has historically grown at double the rate of the country’s GDP. When Indonesia’s GDP increased 6-7% annually in years past, Cardig Aero Destinations was able to grow 12-14% per year.” Nurhadijono joined the company as CEO in 2011, but had worked previously as Cardig’s international CEO.
Forbes Indonesia’s Best of the Best Awards, which has been running for six consecutive years, involves the business magazine reviewing Indonesian listed companies on several key performance areas, including sales growth, net income and return on equity.