COMPANY PERFORMANCE IMPROVEMENT STRATEGY AT PT ANGKASA PURA 1 BRANCH OF GENERAL

Business is a daily activity that produces goods or services, has the aim of creating jobs, meeting daily needs with goods and services, and improving the economy of society. Business people must implement strategic steps due to increasingly fierce business competition and the emergence of the Covid-19 pandemic resulting in paralysis of the world economy (Agung, et. all 2022). analyze whether the cost leadership strategy can improve revenue performance at PT Angkasa Pura 1 Semarang. The research used is a type of qualitative research that involves the use and collection of various materials derived from potential data collection activities, namely by interviews, observations, and collecting data as necessary from documents. Techniques used in data collection by conducting in-depth interviews with respondents. Competitive strategy and business strategy, which includes industrial organization, resource-based viewpoints, dynamic capabilities, and theory. The overall cost leadership strategy is implemented to gain competitive advantage by reducing operating costs below operating costs incurred, cost suppression will have an impact on low product selling prices, so as to attract consumers while still generating profits. This research is qualitative research by conducting in-depth interviews with resource persons both from internal and external companies,


INTRODUCTION
Business is the most important thing and cannot be separated from society. Business can be interpreted as an activity or activities carried out individually or in groups by offering goods or services with the aim of obtaining profit (profit). In a broad sense, business is a general term that describes the day-to-day activities that produce goods or services. Business has several objectives, namely to create jobs, meet daily needs with goods and services, and improve the community's economy.
Coronavirus Disease 2019 , which was originally an epidemic in Wuhan China, has become a terrible epidemic (Agung, et. all 2022). According to Dedi Junaedi (Dedi Junardi, 2020) explained that "The threat of recession and even depression is in sight, even countries as strong as Singapore, South Korea, Japan, the US, UK, France have felt it, moreover Indonesia is also being affected, because in For two consecutive quarters, national economic growth has contracted by up to 5.32%. For the sake of business continuity, business people must implement strategic steps because business competition is getting tougher and the emergence of the Covid-19 pandemic has resulted in the paralysis of the world economy (Agung, et. all 2022). Various impacts have been caused by the Covid-19 pandemic and not a few sectors have been affected due to lack of income.
Covid-19 has become a major disaster for all sectors including the global aviation industry (Miani, et al., 2021). Many countries took action to enforce travel bans which resulted in a drastic reduction in the number of passengers, and the number of flights operating. In the case of companies that have businesses in the field of air transportation that have international routes, they have to close their routes due to the impact of Covid-19. Many airlines closed international route services at the end of March 2020. For example, two major Australian airlines, Qantas and Virgin Australia, canceled almost all scheduled international flights. Australian states quickly followed the federal government's lead by closing their borders to unauthorized foreign tourists. airlineLow cost carriers have been expanding their market share since the early 2000s, the airline industry has become more cost sensitive, as competition to attract airlines has increased (Choi et al., 2019), financial stability is increasingly important to maintain increasingly competitive airport fees (Castillo-Manzano, 2010). However, Covid-19 raised concerns about the financial stability of the aviation industry. The number of passengers has decreased drastically, so many airlines face the risk of bankruptcy. As a result of Covid-19, each airport loses an average of 50% of its connection and network efficiency is decreasing (Sun et al., 2020). It is not yet known when the Covid-19 pandemic will end, government regulations such as lockdowns or monetary penalties, The Covid-19 pandemic strengthened airport quarantine procedures. On 1 June, the International Civil Aviation Organization (ICAO) announced new rules named "guidance for air travel through the Covid-19 public health crisis" (ICAO, 2020). Airport operators are required to complete additional procedures, including reinforcement of quarantine. Passengers may be required to arrive at the airport earlier. However, it is questionable whether changes in airport arrival times lead to increased commercial revenues. How those changes affect passenger behavior, especially in commercial facilities. According to an annual survey of 919 airports in fiscal year 2017 by Airport Council International (ACI airport economics report, 2019), non-aeronautical revenue accounted for 40% of the total surveyed airport revenue. Airports in Asia-Pacific and the Middle East, where non-aeronautical activities are a familiar concept for airport operations, account for nearly 50% (Asia-Pacific: 47%, Middle East: 49%). During the Covid-19 pandemic, PT Angkasa Pura 1 was one of the many other companies affected by the Covid-19 pandemic. An extraordinary impact emerged when the Implementation of Restrictions on Community Activities (PPKM) was implemented, and the issuance of new travel regulations using public transportation during the pandemic. Before the pandemic and PPKM, in 2017 -2019 PT Angkasa Pura 1 Semarang had experienced an increase and decrease in the amount of traffic as shown in the graphic below: During the Covid-19 pandemic, PT Angkasa Pura 1 was one of the many other companies affected by the Covid-19 pandemic. An extraordinary impact emerged when the Implementation of Restrictions on Community Activities (PPKM) was implemented, and the issuance of new travel regulations using public transportation during the pandemic. Before the pandemic and PPKM, in 2017 -2019 PT Angkasa Pura 1 Semarang had experienced an increase and decrease in the amount of traffic as shown in the graphic below: During the Covid-19 pandemic, PT Angkasa Pura 1 was one of the many other companies affected by the Covid-19 pandemic. An extraordinary impact emerged when the Implementation of Restrictions on Community Activities (PPKM) was implemented, and the issuance of new travel regulations using public transportation during the pandemic. Before the pandemic and PPKM, in 2017 -2019 PT Angkasa Pura 1 Semarang had experienced an increase and decrease in the amount of traffic as shown in the graphic below:

Figure 1 Traffic Growth for 2018-2019
In the traffic growth observations above, the movement of passengers, cargo and aircraft increased from 2017 to 2018, but decreased in 2019. From 2020 to 2021 the movement of the number of flights and passengers has again decreased significantly due to the Covid-19 pandemic. Regulations on domestic travel restrictions contained in the SE of the Covid-19 Task Force have further reduced the number of passengers. The Covid-19 pandemic came when PT Angkasa Pura 1 was developing airports that were under capacity, the company spent up to IDR 12 trillion for the construction of Yogyakarta International Airport. Spending IDR 2.3 trillion to build a new terminal for Syamsudin Noor International Airport, Banjarmasin, to develop the new terminal for Jenderal Ahmad Yani International Airport in Semarang, the company spent Rp 2.03 trillion, and Rp 2.6 trillion for the development of Makassar's Sultan Hasanuddin International Airport. The company funds all airport development and construction through programs using various funding sources such as internal funds and bank loans and bonds to maintain domestic flight routes and make airports managed by PT Angkasa Pura 1 more attractive.
In 2019 PT Angkasa Pura 1's revenue reached up to Rp. 8.6 trillion, then decreased in 2020 to only 3.9 trillion, and in 2021 it experienced a slight decline because the number of passengers decreased to 25 million. When the Covid-19 pandemic the company experienced difficult conditions, experienced great pressure in the financial and operational sectors, the company was required to make loan repayments that were previously used in airport development investments when the traffic situation decreased and the company's financial pressure. The world of aviation and tourism is one of the industries most affected by the Covid-19 pandemic and it is not known when the pandemic will end. The current pandemic conditions put pressure on the operational and financial performance of PT Angkasa Pura 1. (Faik Fahmi, 2020) The main director of PT Angkasa Pura 1 said, "under these conditions management has prepared strategic initiatives to reduce the impact of the pandemic on the performance of PT Angkasa Pura 1, by restructuring from an operational and financial standpoint. In this case, asset recyling efforts were made, intensification of accounts receivable collection, applying for tax refunds, operational efficiency starting from traffic-based airport services, organizational simplification, postponement of investment programs and encouraging subsidiaries to carry out business transformation. This restructuring program can strengthen the company's finances in the future, especially the ability to ensure additional cash in income, cost efficiency and fund raising efforts.
To increase other revenues, PT Angkasa Pura 1 carried out a commercial transformation by forming a consortium with Incheon International Airport Corporation (IIAC) and PT Wijaya Karya to form a Batam International Airport PT to manage and develop Batam's Hang Nadim International Airport, in addition to also working with PT Gudang Garam to build Dhoho Kediri Airport. Developing Lombok International Airport in preparation for the Moto GP event in Mandalika, then utilizing the land at Kelan Beach Bali as a Family Leisure Park, Resort Villa, Retail Premium Outlet, Exhibition Hall and Warehouse and developing Airport City at Yogyakarta International Airport.
PT Angkasa Pura 1 is trying to handle this situation so that it quickly gets up and immediately performs the company's obligations to creditors, partners on a regular and gradual basis. With this strategic initiative, the company is optimistic that it will be able to survive in difficult times and bounce back in 2022 so that it can record positive operational results, and the goal of restructuring can be achieved up to Rp. 3.8 trillion, increasing the company's profitability to Rp. 704 billion and increasing capital up to Rp. 3.5 trillion. With the development of airports under the management of PT Angkasa Pura 1 on a consolidated basis, it will increase the number of company assets, when the airport development project begins to be implemented, the company's assets will continue to increase. In 2021 the company's assets will reach IDR 44 trillion, from only IDR 24 trillion in 2017, The company's total cost has decreased and increased greatly, this has happened because PT Angkasa Pura 1 Semarang made several additional human resources in 2020, and has also built airport operations with the eco-airport concept which includes the land side and air side, with a previous area of 58,652 m2 to 90,000 m2, along with the construction of the previous runway (2,000 m) to (2,570 m), including the construction of a rapid exit taxiway/RET (4,600 m2), and an expansion of the Apron capacity of 104,543 m². In accordance with the Reasonable Cost strategy, even though there was an increase in operational costs, the company managed to reduce operational costs below the target. Based on what the authors have described above, Based on the background described above, the air transportation industry has experienced a major impact due to the Covid-19 pandemic, and has also affected the business performance of air transportation companies. Based on these problems, the problem of this research is how to maintain business performance and increase PT Angkasa Pura 1's revenue. In a more specific effort related to the problems in this research, several research questions are asked, as follows: 1. How did the company improve company performance during the Covid-19 pandemic until now?
2. What strategy did the company take in dealing with the crisis during the Covid-19 pandemic? 3. What happens if the company does not implement strategies to improve performance? Strategy Strategy comes from the Greek strategos andstrategos, which means knowledge and art regarding the available resources of a company to achieve certain desired goals (Chandradhy in Zulham, 2011: 32). Strategy is a pattern of goals as well as policies and grand plans that have been designed in such a way as to achieve the company's business goals (Anthony in Elhamma, 2013: 2)." Strategy Evaluation. Strategy is something that needs to be changed because it doesn't work as desired or because there are major changes or improvements. Therefore, managers have an obligation to monitor how well a strategy is performing and how well its implementation is carried out, making adjustments if there is a better way to support the company's operations (Nedelea and Paun, 2009: 101).

Economic Turbulence
Daon et al (2020) state that most governments are aware that air travel plays an important role in the spread of the Covid-19 virus, they close regional borders or limit travel. Shepardson and Whittly (2020) say that since March 2020, the global aviation industry has experienced a 70-95% decline in passenger demand. Khatib et al (2020) said the number of scheduled aircraft movements decreased by 47.5% in August 2020, ICAO and International Finance Companies (2020) say this effect causes tough economic losses, not only for airports but also for most stakeholders in the sector. Akbar and Kisilowski, Kao et al (2020) say airlines have responded to this rapid decline in demand from a costsaving perspective by grounding most of their aircraft and providing employees with time off. Based on ACI (2019) the situation at airports is slightly different, fixed costs incurred to maintain and operate Syntax Admiration, Vol. 4, No. 6, June 2023 infrastructure components are a sizeable part of the airport cost structure, with this airports are not easy to make cost savings, the same is true for airlines.
Forsyth et al (2020) show that airports need to achieve their viability through sufficient liquidity to cover costs in the short and long term, they suggest that airports need to increase flight costs to finance the Capital. However, while they indicated that the government would direct airports not to increase aeronautical fares as a regulator to safeguard the overall health of the industry in the long term, this made it clear that airports should focus more on other sources of revenue, such as post-Covid-19 commercial revenue.

Competition in the Transportation Industry
80% of the airlines that were present at the conference chose the second alternative provided by the government in setting air freight rates, in contrast to the other 20% of airlines preferring the first alternative in accordance with INACA policy. However, the Business Competition Supervisory Commission (KPPU) considers that the stipulation imposed by INACA previously violated Law No. 5 of 1999 concerning Prohibition of Monopolistic Practices in Unfair Business Agreements, therefore the Ministry of Transportation followed up on the determination of air transport rates and submitted them directly with alternatives. rates are set directly to the operator.

Government regulations
Michael Porter argued in Porter Five Forces, that government regulation threatens newcomers to the industry. Industries that involve government regulation, such as telecommunications, healthcare, and airlines, have fewer competitors due to potential difficulties in passing initial evaluations that would allow these companies to legally begin providing services or distributing their products.

Production Cost Efficiency
All economic expenses incurred in producing an item are referred to as production costs, production costs are expenses that have been made by companies to obtain production factors and raw materials used in producing products.

Operational Cost Savings
Otman and Uli (2009) in Haim Hilman and Narenthen Kaliappen (2014) say "cost leadership strategy emphasizes that firms can gain competitive advantage by achieving low cost within the industry" explains that cost leadership strategy can emphasize low costs within companies to achieve competitive advantage . Generic strategy is an alternative strategy within the company to achieve competitive advantage.

Evaluating Costs
Pearce and Robinsi (2009) say that a business is said to be successful if it is built on the basis of cost advantage, where the business is able to provide products or services at a relatively lower cost than its competitors.

Pricing
Pricing strategies are used by companies to determine prices for goods and services, alternative pricing comes from marketing strategies formulated to achieve organizational goals. performance The achievement of implementing the activities of a program to realize the goals, vision and mission of the company is called performance. Performance is an achievement that has been achieved by the company within a certain period of time, company performance is a picture of the company's financial condition that can be analyzed with analytical tools so that the condition of the company can be known. Conducting financial performance appraisal is one way that can be done by management in order to fulfill obligations to donors and achieve company goals optimally. It can be seen that performance is an indicator for companies in making decisions, companies are able to interact with the internal or external environment through information systems, then the information is explained and summarized in financial reports.

Sales Strategy
Many have made changes in their lives since the Covid-19 pandemic, one of which is the aviation industry is also facing unprecedented changes in the management environment, including increasing financial problems in all sectors. This study suggests that the strategic direction at the airport focuses on commercial revenue management. After the Covid-19 pandemic, safety and hygiene will be top priority. As a result, there have been changes to airport operational procedures, the most visible difference being the strengthening of the passenger health condition verification process. Increased waiting time can be a by-product, increasing dwell time having a more significant impact on increasing the spending of existing buyers than creating new buyers. Airport operators can introduce service differentiation perspectives, such as special services, to cut passenger waiting times more precisely. Then, with the emergence of online sales, it requires airport operators to change sales strategies. Prior to Covid-19, there was little effort to align operating and commercial revenue policies despite the increasing importance of revenue management.

Increase Revenue
The airport's main customers are impulse shoppers. Thus, airport operators should pay more attention to encouraging impulse buying tendencies. In addition, airport operators need to change their main promotion direction for commercial facilitiesUnlucky. Traditionally, the main promotional direction has been to provide information about product price or quality (for example, 10% less). However, to stimulate an impulsive buyer's desire to buy, an emotional approach can be more effective. For example, more and more airports are introducing membership so that passengers feel treated and are more loyal. In addition, the Singapore Changi Airport and Hong Kong Airport operating membership service operators put more resources into emphasizing a pleasant travel atmosphere.

Research Approach
The research used is a type of qualitative research that involves the use and collection of various materials originating from potential data collection activities, namely by interviewing, observing, and collecting necessary data from documents. The technique used in collecting data by conducting in-depth interviews with respondents. The instrument intended to obtain qualitative data is in the form of informant responses from buyers and suppliers with a wider range of information. The interview will use an interview guide instrument, which is an open question to the informant, so that the informant can answer more comprehensively. The results of the interviews that have been conducted will then be summarized and concluded by the researcher.

Research Participants
The participants or samples selected to support this research were divided into two, namely internal and external companies. There were 4 participants in the participants who helped carry out the research, as follows:

Research Instruments
The research instrument used by the researcher used direct interviews with each participant or informant that had been previously selected by the researcher to obtain the complete required information. Interviews were conducted face-to-face to get better, complete and accurate results, and to avoid blank or incomplete answers to questions that were not understood by the informant.

Data collection technique
Researchers used primary and secondary data types in this study. Researchers used primary data from interviews with all participants as well as discussions with other parties relevant to the research object, while secondary data from data collection results through other media, both print and electronic, including company documents deemed necessary. The data collection process was carried out from October 2022 to December 2022, in the process data collection was carried out directly through interviews at the participants' locations and through secondary data collection through documents and books and other relevant literature. Evaluation Criteria Creswell (1998) points out that in qualitative research, the aim is to achieve as best as possible to understand what can be described as in-depth knowledge of some social setting or phenomenon. Striving for understanding takes a lot of time in the field, so the verification process is critical to evaluating the quality of qualitative research.

Financial Sector
During a pandemic, traffic conditions had an impact on financial conditions in terms of the income aspect, which experienced a significant decline. As an effort to get out of this performance pressure, the company's management is currently preparing a planned financial and operational restructuring scheme. With these various strategic initiatives, we are optimistic that we can survive this difficult condition and start to rise in 2022 and be able to record positive financial performance. One of the company's strategies is to pay attention to all the rights of employees, but there are indeed a number of things that cause a kind of delay but do not have a significant impact.

Operational Sector
The Covid-19 pandemic has put the company's financial and operational conditions under considerable pressure, which has had a major impact on airport operational activities. The airport gets revenue from the sale of services from the airport in the form of PJP2U and of course that has a huge impact, when PPKM is carried out or when the flight conditions set by the Covid-19 task force as well as central government regulations are enforced. Psychologically, of course, passengers who usually depart do not use flight conditions such as vaccines or restrictions on aircraft capacity. There may be many passengers, especially air transport passengers, who think of alternative transportation because at the time the PPKM was implemented. Operational by traffic that has been determined by our corporate will be carried out in the future,

Marketing Sector
Sales decreased in 2020 due to the COVID-19 pandemic, but have started to increase by around 40% from 2021 to 2022. It is hoped that sales will continue to increase by around 10-15% from 2022 to 2023. customers use air transportation and influence public interest, such as conducting direct marketing to potential partners, benefiting from time and security in using air transportation, and offering more competitive ticket prices.

Stakeholder Sector First Retail
A&W's turnover has decreased by 40 to 50 percent from the years before the pandemic hit. Even though the current pandemic conditions are not as bad as in 2020, the policy regarding pandemic prevention at airports is still in effect. The decline in turnover that occurred at A&W retail was not only due to the pandemic, but also because many tenants at the airport had started to reopen, such as KFC, Kopi Kenangan and other tenants. Currently, the main interest in A&W is regular customers who already know about A&W's products and quality. On the other hand, not all airport service users eat at A&W, this is due to other competitors that attract visitors, for example KFC. The interest of service users at the airport is very varied.

Second Retail
Sales from Surabaya Cafe have increased even though they have not returned to what they were before the pandemic, because the number of passengers at the airport is not as many as before, and the many other tenants also affect the number of customers visiting Surabaya Cafe. Despite the increase in sales, sales from Surabaya Cafe are not enough to cover the rental costs at the airport. The percentage of shortages to cover rental costs is around 20%, this is slightly better than last year's shortfall during the pandemic which experienced quite a severe minus." Even so, the Ahmad Yani airport, there is no difference in rental prices from previous years until now, both from before the pandemic to the pandemic. Where the airport continues to increase the rental price every year.

Financial Sector
From the results of the interviews, it was concluded that various strategic initiatives and optimism can withstand this difficult condition and start to rise in 2022 and can record positive financial performance. One of the company's strategies is to pay attention to all the rights of employees, but there are indeed a number of things that make a kind of delay but do not have a significant impact, it's just a matter of time or technique that is paid to all of these employee rights that have been fulfilled by the company, in conditions at the beginning of the 2020 pandemic, the company has one of the strategic steps, one of which is rationalizing the number of employees by managing traffic-based operations. This can suppress or in terms of cost leadership, companies can prioritize costs which are only important points.

Operational Sector
From the results of the interview above, it can be concluded that the Covid-19 pandemic has put the company's financial and operational conditions under considerable pressure, the company continues to try to generate income by inviting people to return to using air transportation services that air transportation is safe transportation, by adding lots of food centers or spending to attract service users. For the sake of customer satisfaction, the company provides the best service, while continuing to carry out the operational by traffic strategy that has been set by the corporate, which will also be a key for the company, so it is hoped that with this strategy there will be no more wasted operational costs, so that operations can be adjust the optimal cost.

Marketing Sector
From the interview above, it can be concluded that it is important to carry out promotions through social media such as Instagram, but also emphasizes that socializing the airport personally to entrepreneurs and prospective passengers is also important. To maintain interest and sales, companies must maintain service quality, maintain and improve existing brands, and map out suitable areas for various types of brands. Local brands can also compete with foreign brands, but there is a need to carry out training related to packaging brands, and evaluation must continue to be carried out on existing brands to adjust and optimize their placement in the airport area.

Stakeholder Sector First Retail
From the results of the interview above, it can be concluded that the COVID-19 outbreak has had a major impact in various areas of life, one of which is in the economic field. The current good sales conditions in all sectors changed immediately. The impact on economic activity in all sectors is not because of the Covid-19 virus as the object, but regulations related to the Covid-19 virus in the form of restrictions on social relations (social distancing) and PSBB (Large-Scale Social Restrictions) which causes the business sector to be temporarily paralyzed because only a few business units are allowed to operate during the PSBB. The impact that the airport management has had on retail A&W has had quite a positive impact and has increased. The strategy implemented by A&W to attract customers is by increasing from the hospitality side,

Second Retail
From the results of interviews that have been conducted, the impact of the pandemic continues to haunt the national economy. Several things happened that resulted in reduced income for the community, loss of jobs and reduced community activities. This risk creates social problems that impact the economy, for example some food tenants at the airport are also experiencing the impact of Covid, because during Covid-19 the airport was closed for several months and reopened but with rules limiting community activities, as well as reduced flight schedules so that a decrease in the number of passengers who will come to the airport. However, after struggling side by side with the pandemic for 2 years, the airport and tenants at the airport are starting to feel the impact as before, slowly starting to get busy again. CONCLUSION Based on the research process and various qualitative data processing through an in-depth interview process with the addition of traffic reports, estimation reports and financial realization at PT Angkasa Pura 1 Jenderal Ahmad Yani Airport Semarang, the results of the research are in accordance with the objectives, it can be concluded as follows: 1. Competitive strategy and business strategy, which includes industrial organization, resource-based viewpoints, dynamic capabilities, and theory. 2. The overall cost leadership strategy is implemented to gain a competitive advantage by reducing operational costs below the operational costs incurred, cost suppression will have an impact on product selling prices which are low, so as to attract consumers while still generating profits. 3. A successful company must have a strategic plan in order to ensure a solid position in the market, so as to get the desired results. Competitive advantage is the key to large earnings and long-term success. The best performing companies have managers who are deeply involved in implementing the chosen strategy and ensuring that the strategy goes according to plan. Each company can determine different strategies, according to the advantages and uniqueness of the company's resources. 4. Cost leadership strategy can emphasize low costs within the company to achieve competitive advantage. Generic strategy is an alternative strategy in companies to achieve competitive advantage, companies are able to pursue cost leadership strategies by making production efficiencies, and saving operational costs. The cost leadership strategy is a strategy that has good performance compared to other strategies, then the differentiation strategy is better than the other strategies. 5. A business is successful when built on a cost advantage basis, the business is able to provide products or services at a relatively lower cost than its competitors. The cost advantage must be related to those that have been identified as the following: a. Developing innovations to lower production costs. b. Redesign in determining the number of product components. c. Provide training on employee safety in order to reduce the occurrence of work accidents that result in cessation of production. d. Perform maintenance on the company's operations to reduce overhead costs. 6. The airport's main customers are impulse shoppers. Thus, airport operators should pay more attention to encouraging impulse buying tendencies. In addition, airport operators need to change their main promotion direction for commercial facilities. Traditionally, the main promotional direction has been to provide information about product price or quality (for example, 10% less). However, to stimulate an impulsive buyer's desire to buy, an emotional approach can be more effective. For example, more and more airports are introducing membership so that passengers feel treated and are more loyal. The cost leadership strategy and differentiation strategy have superior performance compared to other strategies. Strategy refers to company planning and activities that are regulated by management by optimally utilizing company resources to achieve company goals.