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Garuda Indonesia starts to book profit in Q3
Flag carrier Garuda Indonesia booked US$61.9 million profit in this year's third quarter, according to the company's financial report to the Indonesian Stock Exchange on Wednesday.
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Garuda Indonesia planes are unloaded at Terminal 3 of Soekarno-Hatta International Airport in Tangerang, Banten. (Tempo/Tony Hartawan)
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lag carrier Garuda Indonesia booked US$61.9 million in profit in this year's third quarter, according to the company's financial report to the Indonesian Stock Exchange on Wednesday.
Garuda also saw an 11.2 percent increase in operating revenue to $1.23 billion in the third quarter, up from $1.1 billion during the same period last year.
“All efforts that had been implemented by the company started to produce significant results, indicating positive growth, particularly in international routes, plane utilization and e-commerce,” said Garuda Indonesia president director Pahala N. Mansury, as stated in the report.
He said Garuda had introduced five issues to improve its performance, namely: fleet cost optimization, service-level improvements, routes optimization, channel optimization with a focus on digital to become an IT-based airline and enhancements to their revenue management system.
Meanwhile, total revenue from January to September increased by 8.6 percent to $3.1 billion in the third quarter this year, up from $2.86 billion in the same period last year.
Regular flights accounted for $2.52 billion, the largest contributor to the airline's revenue, while chartered flights contributed $256 million and Garuda’s other businesses contributed $332 million.
The company’s total spending from January to September was recorded at $3.23 billion, mostly for operational costs, which reached $1.86 billion. (bbn)
