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Jakarta Post

Garuda turns to profit as new strategy pays off

  • Riza Roidila Mufti

    The Jakarta Post

PREMIUM
JAKARTA   /   Fri, April 26, 2019   /  04:20 pm
The Jakarta Post Image
A cargo plane of Garuda Indonesia(Courtesy of/flyawaysimulation.com)

After years of suffering big loses, national flag carrier Garuda Indonesia hopes this year will bring fortune to the airline amid signs of recovery in its financial performance. Optimism soared after Garuda Indonesia Group, comprising of Garuda Indonesia and Citilink Indonesia, recorded US$19.7 million net income in the first quarter of this year. While not impressive in and of itself, the figure marks a turning point from a $64.3 million loss recorded in the same period last year. The profit was supported by growth in revenue to $1.09 billion in the first quarter, up about 12 percent on the year. Garuda commercial director Pikri Ilham Kurniansyah said on Wednesday that the improving financial performance was partly owed to a change in the airline’s business strategy. “What we have done is to align our products with demand, thus we cut costs and even gained a pro...