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Jakarta Post

Garuda turns in losses as pandemic hits aviation

  • Mardika Parama


Jakarta   /   Wed, August 5 2020   /  01:00 am
The stewardess welcomed the guests at the launch of the NEO Airbus A330-900 at the Soekarno Hatta International Airport, Tangerang, Banten.(JP/Dhoni Setiawan)

National flag carrier Garuda Indonesia turned in a loss of US$712.73 million in the first half of this year after booking a net profit of $24.11 million in the same period last year as the COVID-19 pandemic continues to batter the airline industry. Garuda president director Irfan Setiaputra said the COVID-19 pandemic forced the company to cut its flight frequency and such a measure had severely affected the company’s revenues and profits. “The COVID-19 pandemic has had a severe impact on the company’s performance as our daily flight frequency has been reduced from around 400 to 100 flights. In addition, the number of passengers has also plummeted by around 90 percent,” he said in a statement on Saturday. Garuda’s total revenue in this year’s first six months nosedived by 58.2 percent year on year (yoy) to $917.28 million, according to the comp...