INDONESIA: Garuda reports 1st half gains

Garuda Indonesia reported profi t of Rp148 billion (US$16.4m) in the fi rst half of 2007, after suffering continuouslosses in the previous three years. The carrier was able to raise profi t by 141 per cent compared to Rp361 billion in losses in January-June of 2006.“The gain in fi rst half of this year isthe […]


Garuda Indonesia reported profi t of Rp148 billion (US$16.4m) in the fi rst half of 2007, after suffering continuouslosses in the previous three years.

The carrier was able to raise profi t by 141 per cent compared to Rp361 billion in losses in January-June of 2006.“The gain in fi rst half of this year isthe positive impact of various consolidationmeasures taken by the management,”CEO Emisyah Satar said.

He added that the increased load factor from 70 per cent last year to 76 per cent in 2007 contributed to the increase.

Satar is targeting a 20 per cent increase in net profi t during second half of the year, considering peak seasons such as Christmas, Lebaran (Eid ul-Fitr) and New Year.

He also hoped that Garuda will be able to accomplish debt restructuring by the end of this year, including plans to sell off nonproductive assets.