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 · Unexpected Turbulence Ahead
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

Unexpected Turbulence Ahead

Garuda Looks to Weathering Stormy Economic Days Ahead.


Bali News: Unexpected Turbulence Ahead
Click Image to Enlarge

(11/10/2008)

Despite assurances from the Minister of Culture and Tourism that Indonesia is immune from any negative effect of the world economic crisis [See: Editorial – Ignorance is Bliss], Garuda Indonesia is clearly aware of a number of challenges the sudden change in the world's economic fortunes will present for the national flag carrier.

Garuda’s CEO, Emirsyah Satar remains generally optimistic, telling the press, "We are still positive about our operating profit despite the depreciation of the rupiah. Thus far, we have recorded a substantial income."

Emirsyah later admitted that the foreign currency cost related to the Rupaih's depreciation remains to be calculated.

During the first eight months of 2008 Garuda booked a net profit pf US$27.2 million, an increase of 5% in rupiah terms over the same period in 2007.

Aviation insiders are projecting the following possible impacts for Garuda, from the worsening economic crisis:

● A possible delay in the planned IPO originally scheduled for 2009. Current market conditions may be inimical to seeking a strong initial share price for Garuda shares offered to the public, necessitating a delay in plans to "go public" with a portion of the Airline’s stock portfolio.

● Tight credit globally may make it difficult for Garuda to secure the backing of financial institutions needed to conclude the lease arrangements for new aircraft on order and central to its corporate restructuring plans.

● Plans to commence service to Europe in 2010 may need to be delayed in the face of tight credit and reduced consumer demand for long-distance travel.

● Still to be factored in is the potental effects of declining passenger demand and heightened competition for domestic air passengers; lower fuel costs; and still-to-be-seen impact of the world financial crisis on passenger travel ex Australia, South Korea, Mainland China and Japan which represent key source markets for Garuda.

Buckle your seat belts!


© 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
Reducing Fatal Snakebites in Indonesia
Indonesia Needs to Develop a Range of Poisonous Snakebite Serum Vaccines
(11/23/2014)
Imprisoned on Appeal
Supreme Court Send Bali Lawyer Rizaldy Wartuty to Prison for Fraud in a Property Deal
(11/23/2014)
Snatch Thieves, Catch Thieves
Police Arrest Two Pickpockets Operating on Poppies Lane II in Kuta, Bali
(11/26/2014)
Prisoners of Paradise
Bali’s Kerobokan Prison Bursting with Inmates While New Prison Construction in Bangli Stuck in Bureaucratic and Funding Delays
(11/23/2014)
Roadside Banditry
Villagers between Selat and Sideman Participating in Collection Illegal Retributions from Passing Trucks
(11/23/2014)
Where to Lunch in Ubud
Too Good Not to Share: Warung Teges, Peliatan, Ubud for Outstanding Nasi Bali
(11/23/2014)
Refusing Treatment Proves Fatal for Arab Tourist
Saudi Arabian Tourist Fall Ill and Dies in Bali
(11/23/2014)
Asia’s Best Street Food in a Single Locale
Too Good Not to Share: Bali Update Editor Discovers that Sarong’s Love Affair with Indonesian Cuisine Continues to Blossom and Bloom
(11/23/2014)
Saved from the Satay Grill
Bali Water Police Rescue 51 Endangered Green Turtles
(11/23/2014)
Man of the People
President Joko Widodo Flies Economy to Attend Son’s Graduation in Singapore
(11/23/2014)
A Dozen Years for Homicide
19 Year-Old Male Prostitute who Killed American Paul Latourell Sentenced to 12 Years Prison
(11/23/2014)
Fire in Ubud
Massive Fire Destroys Clear Café and Five Nearby Homes in Ubud, Bali
(11/23/2014)
All [News]!