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Garuda books $4.2b in revenue; reduces losses to $213.4m, last year
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A Garuda Indonesia aircraft takes off on June 13, 2017 from I Gusti Ngurah Rai International Airport in Denpasar, Bali. (Antara/Fikri Yusuf)
N
ational Flag carrier PT Garuda Indonesia last year booked US$4.2 billion in revenue, an 8.1 percent increase from $3.9 billion, but still recorded a net loss of $213.4 million.
Garuda Indonesia president director Pahala N Mansury said in Jakarta on Monday that the positive trend in Garuda's revenue growth was supported by a growth in revenue from unscheduled flights, which grew by 56.9 percent to $301.5 million.
Meanwhile, the income from non-aviation and subsidiary revenue also grew by 20.9 percent to $473.8 million, last year, he added.
“Garuda Indonesia managed to reduce losses in the second quarter to $38.9 million from $99.1 million in the first quarter,” said Pahala in a statement received on Tuesday.
He added that the airline booked US$61.1 in profit in the third quarter of 2017 and $8.5 million in profit in fourth quarter.
Pahala said in 2017, Garuda Group managed to transport 36.2 million passengers – 24 million by Garuda Indonesia and 12.3 million by its subsidiary, Citilink Indonesia – up from 35 million passengers in 2016.
Last year, Garuda also improved its plane utilization rate to 9 hours and 36 minutes from 8 hours and 58 minutes in previous years, said Pahala, adding that this year, Garuda eyed a plane utilization rate of 10 hours and 24 minutes.
He also said Garuda had maintained its status as a five-star service airline awarded by Skytrax since 2014. “It is evidence of the corporate commitment to provide quality service,” he added. (bbn)
