Garuda posts $56.4m profit in 2013
Garuda Indonesia has closed out 2013 posting an operating profit of US$56.4 million, down 66.4 per cent from a year earlier, on an operating revenue of US$3.72 billion.
March 6, 2014
Garuda Indonesia has closed out 2013 posting an operating profit of US$56.4 million, down 66.4 per cent from a year earlier, on an operating revenue of US$3.72 billion. During the year the carrier also paid off debt amounting to US$130 million and saw its passenger and cargo numbers jump by more than 20 per cent.
Garuda Indonesia president & CEO, Emirsyah Satar, said that Garuda Indonesia’s financial performance in 2013 was influenced by rupiah’s decline against the US dollar. In 2013 Garuda was also focused on funding new aircraft to support increasing operations-for either Garuda, or its low cost domestic carrier, Citilink. “Apart from that, despite receiving less income, in 2013 Garuda managed to pay off debt amounting to a total of US$130 million,” added Satar.
In 2013, Garuda Indonesia transported 25 million passengers; an increase of 22.3 per cent compared to the 20.4 million passengers in 2012.
Production capacity (availability seat kilometre/ASK) in 2013 also increased by 19.8 per cent in 2013. Garuda Cargo also succeeded in increasing cargo volume to 345,923 tonnes, a rise of 23.4 per cent from last year’s 280,285 tonnes.
In 2013, Garuda Indonesia Group received 36 new aircraft consisting of four B777-300 ER, two A330-200, one A330-300, 10 B737-800 Next Generation, seven Bombardier CRJ- 1000 NextGen, two ATR 72-600, and 10 A320 for Citilink, making the total number of aircraft in operation throughout 2013, 140 aircraft of an average five years of age.