Mimi Hudoyo, Jakarta (2009-03-04)

GARUDA Indonesia has recorded an unaudited operational profit of 683.6 billion rupiah (US$57 million) in 2008, an increase of 164 per cent from 258 billion rupiah in 2007.

Garuda President and CEO, Mr Emirsyah Satar, said: "The growth of prof..." />
 
Monday . June 17 . 2019
         
 
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Garuda turns in high profit growth for 2008
 
Mimi Hudoyo, Jakarta (2009-03-04)

GARUDA Indonesia has recorded an unaudited operational profit of 683.6 billion rupiah (US$57 million) in 2008, an increase of 164 per cent from 258 billion rupiah in 2007.

Garuda President and CEO, Mr Emirsyah Satar, said: "The growth of profit was driven by the growth of our income, from 13.1 trillion rupiah in 2007 to 18.1 trillion rupiah last year, or an increase of 38.1 per cent."

Speaking to the media after the launch of eight Boeing 737-800NGs financing by Dubai Aerospace Enterprise Capital yesterday (TTG Daily News Mar 3), Mr Satar said the highest revenue increase was from operations, which was 38 per cent.

"We have also recorded excellent results by improving our time performance (OTP)," he added.

In 2008 Garuda Indonesia had an OTP of 84.11 per cent compared to 76.73 per cent in 2007. This year, Garuda targets an OTP of 85 per cent.

However, passenger loads were slightly down at 76.53 per cent in 2008 compared to 77.46 per cent in 2007.

Mr Satar expected overall performance for 2009 would more or less be similar to that of 2008, despite the crisis.

In the meantime, Garuda Indonesia in Australia has announced it will reduce fuel surcharges from Australian ports by 50 per cent, effective March 7.
 
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