Garuda Predicts Soaring Profits

(3/22/2004)

Mr. Indra Setiawan, President Director of Garuda Indonesia has indicated that the airline is very "bullish" on its potential profitability in 2004 due to its growing internal operating efficiencies and a generally buoyant market for travel on the routes they operate.

Predicting a 100% increase in profitability for the current year, Mr. Setiawan said that the carrier is targeting revenues of Rp. 11 trillion (approximately US$ 1.29 billion) yielding a system-wide profit of Rp. 500 billion (approximately US$ 58.8 million).

This buoyantly optimistic view of the airline's future profitability is allowing Garuda to push ahead with plans to secure additional aircraft for its domestic flight operations, supplementing its current armada of 54 aircraft serving 21 domestic and 22 international destinations.