TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Despite bumpy yearly start, Garuda believes it will shine in 2019
Garuda Indonesia believes the year 2019 will still be fruitful for the company.
Change Size
A Garuda Indonesia airplane. (Shutterstock.com/e X p o s e)
T
he first quarter was a bumpy journey for national flag carrier Garuda Indonesia as the airline saw events that have put the company in the spotlight.
In early July, Garuda Indonesia made the news when its labor union reported Rius Vernandes to the police for defamation after he shared an Instagram story about a handwritten menu on a Garuda flight.
Not long after the issue sparked public debate and criticism, the case ended peacefully with Garuda Indonesia revoking its police report.
The bad press reached its peak when Garuda Indonesia had to issue a restatement of its 2018 financial report on Friday after the authorities required it to do so as a sanction for its problematic 2018 financial report issued earlier.
In its revised 2018 financial report, Garuda recorded a net loss of US$175.02 million in 2018, in contrast to a net profit of $5.01 million mentioned in the early version of the balance sheet.
Despite what had happened recently to the airline, Garuda Indonesia believes the year 2019 will still be fruitful for the company, finance and risk management director Fuad Rizal said.
A positive performance was recorded during the first quarter when Garuda booked a net profit of $19.73 million, compared to a net loss of $64.27 million in the same period last year. This drives Garuda’s confidence for the remaining months of the year.
