Wednesday, October 28, 2015

Garuda Indonesia Books an Impressive Profit Flying in Challenging Conditions

The State News Agency Antara reports that Garuda Indonesia (GIAA) has recorded a profit of US$51.4 million through the end of Q3 2015, an improvement of 123.4 compared to the first three quarters of 2014 when Garuda lost US$220 million.

For the first three quarters of the current year, Garuda Indonesia saw revenues grow to US$2.84 billion, up slightly from the US$2.83 billion recorded in the same period in 2014. The company’s dramatic improvement in its bottom line resulted from lower expenses of US$2.72 billion as compared to US$3.09 billion in 2014,

Garuda’s CEO, Arif Wibowo, commenting on the improved performance of the Airline, said: "Improvements in the Company's performance are the result of strategic business development measures being carried out through the 'Quick Wins' program, as well as a tight cost efficiency policy that was put into effect at the beginning of the year."

Garuda has managed booked a profit in a challenging operating environment characterized by a sluggish word economy and natural disasters that included volcanic explosions and forest fires that impacted airline operations.

The Garuda Group, including its subsidiary Citilink, carried 24.55 million passengers during the first nine months of 2015, an increase of 17.5% over the 20.89 million uplifted during the same nine-month period in 2014.

Speaking of Garuda Indonesia's ongoing flight network development, Citilink Indonesia's former president said that the Garuda Indonesia Group (including Citilink) together carried a total of 24.55 million passengers during Jan-Sept 2015, or an increase of 17.5% compared to 20.89 million passengers carried during the same period in the previous year.

Garuda Indonesia carried 14.51 million domestic passengers and 3.18 million international passengers through the end of Q3 2015. Citilink, meanwhile, carried 6.87 million passengers during the same nine-month period – up 28.8% from passenger totals through Q3 2014,

Garuda Indonesia booked an average Seat Load Factor of 77.3% on its flights through the first nine months of 2015 while achieving an On-Time-Performance of 88.2% and average aircraft utilization per day of 9:11 hours.

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