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Flying Back into the Black

Garuda Indonesian Returns to Profitability in Q3 2017

Bali News: Garuda Indonesia, Profitability, Cost Cutting, Pahala Mansury
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Indonesian flag carrier Garuda Indonesia has managed a financial turn-around posting a 3Q profit  linked to aggressive cost cutting that also help offset rising fuel prices.

As reported by, Garuda posted a profit of US$59.9 million for the 3Q (July-September), a three-fold increase over the same quarter one year before.
Q3 revenues for the airlines increased 11% totaling US$1.22 billion, spurred by revenues generated by Haj pilgrimages and an increase in charter flights.
To reduce costs, Garuda has eliminated loss-making routes and intensifying the marketing of its digital networks. Also, curtailed was the level of service in the first-class cabin.
On a cumulative basis January-September 2017, Garuda recorded a loss of US$222 million, having loss US$44 million for fiscal 2016.  The airline also suffered one-time expenditures due to penalties imposed under the tax amnesty program.
The Airline’s management is working to maintain a level of profitability that will allow Garuda to resume plans for the purchase of new aircraft and an expansion of its current route network.
The Airline’s CEO, Pahala Mansury, is renegotiating leasing contract with aircraft leasing companies that will entail a delayed delivery of new aircraft.
Management is seeking to achieve US$100 m in costs savings for all of 2017.

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