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Garuda scheduled flight income slides in Q3
The income segment slid for the first time this year in Q3 after the government imposed emergency curbs.
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Till the next flight: An airport ground staff member guides a Garuda Indonesia Boeing 777-300 ER plane upon arriving at the Garuda Maintenance Facility in Soekarno Hatta International Airport in Banten on June 19, 2015. The national flag carrier is facing a debilitating crisis in the wake of the COVID-19 pandemic. (JP/Jerry Adiguna)
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ublicly listed flag carrier PT Garuda Indonesia suffered declines in scheduled flight income in the July to September period, the first quarterly decline for the key income segment this year, disrupting the company's financial recovery.
Garuda's scheduled passenger flight income – the largest contributor to total revenue – hit US$99.8 million in the third quarter, down by 48 percent from the previous quarter, due to emergency public mobility restrictions (PPKM Darurat) introduced in July to curb the Delta wave of COVID-19.
Income from unscheduled charter flights also dipped 3.8 percent quarter-to-quarter (qtq) to $18.2 million in the third quarter, continuing its downward trend since the fourth quarter of 2020.
Cargo income slid 11.3 percent qtq to $76.7 million in the third quarter, continuing a downward trend since the first quarter of this year.
“Starting in July and August, there was pressure,” Garuda director of finance and risk management Prasetio said in a press briefing on Monday. “The [mobility restrictions] took place, causing us to adjust the number of passengers, production capacity and cargo in line with needs.”
The Delta wave prompted the government to tighten mobility curbs, thus causing the number of domestic flight passengers to fall by 24.34 percent to 4.04 million in the July to September period from a year earlier, Statistics Indonesia (BPS) data show.
Read also: Garuda enters formal restructuring after ruling on debt petition
