The Covid-19 pandemic has caused a decrease in passenger traffic and aircraft movement, which cause declining revenues, both for airlines and airports. This research took the study case in Angkasa Pura I as Indonesian state-owned airport operator company, who operates the airports for two-thirds area of Indonesia. They are demanded by the holding company (AVIATA or called as Injourney) and state-owned company ministry to create the survival strategy to fulfill the loop-hole of declined revenue and at the same time to be used as the sustainable strategy for the future. This research uses a qualitative method as research methodology to describe survival strategies of the Indonesian airport operator company, using visual analysis by direct observation, study documentation and data, and interviews with key personnels of the company by conducting focus group discussion. To be a profitable airport operator company, controlling the operating expenses and the operating income is a key finding. Supported by another additional systematic strategies (in total, there are five strategies), Angkasa Pura I can increase the earnings before interest tax depreciation amortization margin by 28% on first quarter 2022 as the result of this research.