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Jakarta Post

Garuda Indonesia booked US$809,846 profit in 2018

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, April 5, 2019   /   08:08 am
Garuda Indonesia booked US$809,846 profit in 2018 A Garuda Indonesia aircraft. (Shutterstock.com/e X p o s e)

Flag carrier Garuda Indonesia booked US$809,846 in 2018 after it recorded a loss of $216.58 million the previous year, according to a company report to the Indonesia Stock Exchange (IDX).

The report says the company’s revenue increased to $4.37 billion in 2018 from $4.17 billion in 2017.

The scheduled flights of the airline contributed $3.53 billion to the revenue, unscheduled flights contributed $266.86 million and other income contributed $567.93 million.

The asset value of the airline increased to $4.37 billion in 2018 from $3.76 billion the previous year, according to kontan.co.id.

In 2014, the company recorded losses of $370 million, in 2015 it booked a profit of $76.5 million and in 2016, its net profit decreased to $8.1 million.

Previously, Garuda Indonesia president director Ari Askhara revealed that the company had been able to address the loss since the third quarter of 2018. He told the press on Dec. 21, 2018 that the company had managed to book a meager profit during the year. (bbn)