Business

Garuda booked profit, not
loss: State Enterprises
Minister

After announcing that national flag carrier Garuda Indonesia suffered losses of Rp 39.51 billion (US$ 4.4 million) in the third quarter of 2010, the State Enterprises Ministry revised its statement and said the company had booked a net profit of Rp 194.9 billion.

The previous announcement was a genuine error, State Enterprises Minister Mustafa Abubakar said Tuesday.

“Garuda booked a profit, not a loss. There was an error in the financial report,” he said. 

On Friday, Sumaryanto Widyatin, Mustafa’s deputy for infrastructure and logistics, said had Garuda suffered losses in the third quarter after opening new international routes.

Garuda president director Emirsyah Satar declined to comment on the mistake, saying that an independent auditor had checked the report.

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