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Garuda Flies into the Black

Indonesia's National Airline Reaps the Rewards of Reorganization by Booking a US$27.8 Million Profit in 2007.

(1/26/2008) The National News Agency Antara reports that PT Garuda Indonesia - the flag carrier of Indonesia managed to post an unaudited profit of Rp. 259 billion (US$27.8 million) for 2007.

This contrasts with a loss of Rp. 197 billion (US$21.2 million) record in 2006.

The favorable turn-around for Garuda was revealed by the Airline's President Director, Emirsyah Satar, during recent hearings before Commission V of the Indonesian House of Representatives.

In these hearings, Emirsyah also reported:

Load factors for Garuda in 2007 averaged 78%, up from the average 72% recorded in 2006.

Total passengers carried by the Airline increased year on year by +11% to a total uplift of 8.41 million passengers.

Total turnover in 2007 increased +16% to US$1.04 billion, up from US$896 million in 2006.