Garuda back in the black with US$29.3m net profit

PT Garuda Indonesia (Persero) Tbk. has booked a US$29.3 million net profit in the first half of 2015, representing a 114.5 per cent jump over the same period last year, which was a negative US$201.3 million.


PT Garuda Indonesia (Persero) Tbk. has booked a US$29.3 million net profit in the first half of 2015, representing a 114.5 per cent jump over the same period last year, which was a negative US$201.3 million. Garuda said the performance growth – amidst the economic down turn – has been achieved through various initiatives by the carrier as part of its ‘Quick Wins’ programme, as well as a continuous efficiency strategy.

Garuda Indonesia also succeeded in increasing its operating revenue to US$1.84 billion, an increase 4.7 per cent compared to previous year; while operating expenses decreased by 11.6 per cent to USD 1.76 billion. The increased net income and decreased operating expenses marks the positive improvement of the management, supported by the strong performance of the company since Q1/2015.

Garuda transported 176,123 tonnes of cargo, down from 193,508 tonnes, while passenger carriage increased 19.5 per cent to 13.3 million passengers over the period.