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 · When it Rains, it Pours.
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

When it Rains, it Pours.

Despite Rising Revenues, Garuda Indonesia Books a Q1 2011 Loss of US$21.9 million.


Bali News: Garuda, Indonesia, industrial action, IPO, share price, profit, loss
Click Image to Enlarge

(7/31/2011)

The Indonesian national carrier Garuda Indonesia is plagued by a host of problems: an IPO launch that fell far short of anticipated revenue targets; a depressed share price trading at more than 30% below the price pegged during the IPO; and industrial-relations problems with its pilots. Adding to the misery, news from the Jakarta Globe that for the first six months of 2011 Garuda has suffered a loss of Rp. 185.7 billion (US$21.9 million).

Compared to the same period just one year ago when Garuda earned a profit of Rp. 60.6 billion, the company's profits have declined by more than 400%.

The CEO of Gaurda, Emirsyah Satar, insists the loss incurred by his airline is less worhty of note than the fact that the Indonesian national carrier has managed to enhance revenues by 68.7% to Rp. 11.2 trillion
(US$1.27 billion) in the H1 of 2011.

Emirsyah blames the bad profit figures on rising operating costs, chiefly fuel and personnel. Said the Garuda CEO, 

“fuel remains a major uncertainty for us, but we managed to boost revenue.”

Fuels costs for the airline at Rp. 6.3 trillion have increased 165% in Q1 2011 as compared to Q1 2010. Meanwhile, administrative expenses, including wages, cost Rp. 920 billion in Q1 2011, an increase of 43.3% over the same period in 2010.

Emirsyah thinks the overall strength of the Indonesian economy and strong revenues expected during the coming Haj pilgrimage seasons will in time boost the airline’s profits.

Explained Emirsyah: “Generally, our strategy has not changed. We will keep investing in promoting sales and ticketing so that we can fill our seats, focusing on the domestic market by boosting frequency, expanding and rejuvenating our fleet, increasing the quantity and quality of our human resources and maintaining cost discipline.”

The finance director of Garuda, Elisaa Lumbantoruan, told the press that the airline is expanding its route network, increasing fares and focusing on business class to boost revenues to offset high fuels costs. As a cash-saving measure, Garuda has also cut back on its order for new aircraft for its budget subsidiary Citilink from 15 new aircraft to 10. The national carriers will, at the same time, and add 5 planes to its current fleet of 86 aircraft.


© 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
Baliís Loses Much-Loved Tourism Pioneer
Ida Pedanda Gde Ngurah Karang Ė Founder of Segara Village Hotel Dies at 87
(12/22/2014)
Fun & Sun Costs More in South Bali
Price of Waters Sports at Tanjung Benoa, Bali Increase by 30%
(12/20/2014)
Fire in East Denpasar
Fire Destroys 7 Shop Houses in East Denpasar, Bali
(12/20/2014)
Mantra for Difficult Times
Australian Mantra Hotel Group Scales Down its Plans in Tough Bali Marketplace
(12/20/2014)
Be Prepared
Bali Identifies Areas at Risk of Natural Disaster and Maps Plans to Minimize Destruction
(12/20/2014)
When Sleighs Wonít Do
Bali Airport to Operate 134 Extra Flights Over Christmas and New Year Period
(12/20/2014)
When a Bay Becomes a Quagmire
Editorial: We Support Jakarta Globe Call for President Joko Widodo to Cancel the Benoa Bay Reclamation
(12/20/2014)
4.25 Million Foreign Tourists to Bali in 2015?
Bali Seeks to Add 500,000 Tourist Visitors in 2015
(12/20/2014)
That Takes the Lot!
Baliís Tanah Lot Temple Experiencing a Record Number of Visitors Leader Up to Year End Piodalan Ceremony
(12/20/2014)
Shanghaied No More
Singaraja, Bali Immigration Office Deports 282 Foreign Workers in 2014
(12/20/2014)
Different Strokes Apply in Bali
Pendawa Beach Visitors in Bali Reminded that Sexual Activity and Swimming While Menstruating are Strictly Not Allowed
(12/20/2014)
Bali Non-Stop to Cairn, Australia
JetStar to Fly Direct Three Time a Week Cairns to Bali Flights Starting in March 2015
(12/20/2014)
All [News]!