Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Garuda Indonesia Sees Red in Q1 2005
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Garuda Indonesia Sees Red in Q1 2005

National Airline’s Losses Mount at US$14 Million for Q1 2005. Fuels Surcharges Planned on Australian and Middle-Eastern Services.


Bali News: Garuda Indonesia Sees Red in Q1 2005
Click Image to Enlarge

(5/2/2005)

Garuda Indonesia - the national flag carrier of Indonesia, reported losses during the first 3 months of 2005 totaling Rp. 139 billion (approximately US$14.5 million). On a daily basis, that's equal to a loss of Rp. 1.54 billion (approximately US$157,500) each and every operational day - a total slightly better than the estimated Rp. 1.6 billion lost during every day of operation by Garuda in 2004. On a quarter to quarter comparison basis, however, Garuda's first quarter losses are 89% larger than the same period a year before fueling concern that the final numbers for 2005 may exceed the Rp. 618 billion operating loss (approximately US$63 million) posted in 2004.

Speaking to the Indonesian-language daily Kompas, the Airline's newly-appointed President Director, Emirsyah Satar, said that the Airline lost money on 65% of its 33 international routes while suffering losses on 71% of its 27 domestic routes.

Garuda is burdened with debts of US$ 826 million requiring yearly repayments totaling US$110 million. With targeted "break-even" annual revenues for 2005 of only Rp. 10.6 trillion (approximately US$ 1.1 billion) there is genuine concern among Garuda’s management funds in hand will be insufficient to meet the Company's debt service. As a result, Garuda's bosses will soon be meeting in coming days with the European Credit Agency - the creditor who holds the Airline's debt, to seek a further rescheduling of their current debt load.

Garuda operates a total of 57 aircraft, 26 of which are Boeing 747-400's. At the height of its corporate glory, the airline flew to both the U.S.A. and Europe and was the largest airline in the Southern hemisphere. In recent years, however, Garuda has shrunk to become a shadow of its former self now serving destinations only within Austral-Asia and the Middle-East.

In a step to counteract the effect of rising fuel costs, the Jakarta Post reports that Garuda plans to impose a US$25 surcharge on flights operating between Australia and Indoneisa and US$12 on flights between Indonesia and the Middle-East.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Murder at Bali Emerald Villas in Sanur, Bali
Long-Time Bali Resident Bob Ellis Murdered in What Police Believe was Murder-for-Hire Scheme Orchestrated by His Wife, Noor Ellis
(10/24/2014)
Fighting Malaria in Bali
Denpasar Health Officials Undertake Educative Steps and Fogging to Prevent Upswing in Dengue Fever Cases
(10/24/2014)
November Fuel Price Hike Increasingly Certain
Kompas.com Reports Premium Fuel Prices to Increase 46% on November 1, 2104
(10/24/2014)
Harmony Inside
A Solo exhibition by I Made Wiradana, "Harmony Inside" November 20 - December 18, 2014 at Ganesha Gallery – Four Seasons Resort Jimbaran
(10/24/2014)
Living in an Age of Contagion
Bali Isolates Patient Suspected of Contracting MERS-CoV
(10/24/2014)
Denpasar to Dili Daily
Garuda Starts Daily Flights between Bali and Timor Leste
(10/24/2014)
Picking Fave – orites
Archipelago International Opens 5th Favehotel in Bali
(10/24/2014)
Bali and Beyond: Reading on Borneo
Bookshelf: 'Looking for Borneo' – Insights into the Endless Beauty of the World’s Third Largest Island
(10/24/2014)
Adolescent Desires
Australian Philip Robert Grandfield Deported to Australia After Six Years in Prison on Pedophilia Conviction
(10/24/2014)
Change Has Gotta Come
Putting Bali’s Illegal Moneychangers Out of Business
(10/24/2014)
It’s Beginning to Look a Lotte Like Christmas
BIWA Christmas Bazaar at Lottte Mart Saturday, November 16, 2014
(10/24/2014)
Heinz's 100 Varieties of Indonesian Cuisine
Bookshelf: A New Approach to Indonesian Cooking by Heinz von Holzen
(10/20/2014)
All [News]!