STUDY OF FINANCIAL ASPECTS AND IMPLEMENTATION OF OPERATIONAL COOPERATION (KSO) AT WEST JAVA INTERNATIONAL AIRPORT - KERTAJATI

• Main Author: Natalia Sitompul, Christina
• Format: Theses
• Language: Indonesia
• Subjects: Teknik sipil
• Online Access: https://digilib.itb.ac.id/gdl/view/84946
• Institution: Institut Teknologi Bandung

Kertajati Airport is the second largest airport after Soekarno-Hatta International Airport in Indonesia. Although the service coverage and service targets of Kertajati Airport are quite extensive, they are not in line with the current number of airport users. This can be seen from the low aircraft load factor. Several efforts have been made, such as the transfer of all flights with jet aircraft from Husein Sastranegara Airport to Kertajati Airport, easy access with DAMRI buses, procurement of shuttle and travel modes with discounts, and increasing commercial areas. Based on the analysis of the 2020 annual financial report, Kertajati Airport is in an operational deficit, so operational costs must continue to be subsidized by the West Java Regional Government. The scope of this study is about the financial feasibility of the current (existing) Operational Cooperation (KSO) implementation mechanism at West Java International Airport - Kertajati by the government and PT Angkasa Pura II and how alternative scenarios can be implemented in an effort to improve financial conditions and operational performance. Financial feasibility analysis with Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period parameters. This research analyzes the financial condition with its core indicators. Strategies that can be carried out include the addition / transfer of cargo from Soekarno Hatta Airport to Kertajati Airport, the development of the Maintenance, Repair and Overhaul (MRO) business, improving the status of land legality around the airport, and providing incentives to airlines for flight route development. The MRO development strategy is considered the best because it produces an NPV value of Rp.3,844,319,857,142 or positive value, the IRR feasibility parameter is 22.60% or greater than the reference interest rate, and the Payback Period is obtained for 11 years. MRO development increases revenue directly, but can also lead to an overall improvement in the company's financial position, with total assets, total liabilities, and total equity all becoming positive.