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Garuda back in black following increase in airfares
As of the end of September, the airline’s total revenues rose by 8.9 percent year-on-year (yoy) to $3.54 billion thanks to a series of increases in airfares since early this year.
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Garuda Indonesia's cabin crew wear Kebaya uniforms. The airline reported net profits of US$122.42 million as of September this year (Garuda Indonesia/File)
N
ational flag carrier Garuda Indonesia booked a large amount of profits during the first nine months of this year following a sharp increase in domestic airfares since early this year.
As of the end of September, the airline pocketed US$122.42 million in net profits, a reverse from a net loss of $114.08 million during the same period last year.
During the same period, the airline’s total revenues rose by 8.9 percent year-on-year (yoy) to $3.54 billion. The revenues from scheduled services accounted for 78.96 percent of the total revenues.
Since late last year, Garuda has increased its domestic airfares several times despite the government’s move in middle of the year to lower the price ceiling for economy class tickets.
The revenue from its maintenance, ground handling and catering business recorded a 24.35 percent yoy increase throughout the period, although it contributed only 13.98 percent to total revenues.
