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Rising Costs Dent Garuda’s Finances

Garuda Loses US$211 million in First Half of 2014

(7/25/2014) The Jakarta Globe reports that Garuda Indonesia booked losses of US$211 million during the first six months of 2014, increasing dramatically from the US$10.92 million lost in the same period in 2013.

Revenues of the Airline increased 0.8 percent totaling US$1.74 billion, but escalating expenses outpaced revenues and increased 15%% to US1.96 million.

Foreign exchange losses of US$12.86 million were also recorded in Garuda’s Indonesia's latest financial report.