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Seeking to Soar Financially in 2018

Garuda Aims to Post a Modest Profit for Q2 2017 on the Way to a Profitable 2018

Bali News: Garuda Indonesia, financial results, Pahala N Mansury
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(12/24/2017) reports that the Indonesian National Flag Carrier PT Garuda Indonesia is confident that the Airline’s financial prospects are on the mend; optimistic that the 2nd semester of 2017 will end in the black.

The CEO of Garuda Indonesia, Pahala N Mansury, forecasts that the Airline will show a profit for the half year ending December 2017, because Q3 for 2017 showed a modest profit.

Quoted on Monday, December 18, 2017, Mansury said: “Because the three-months of Q3 saw a profit of US$62 million, we hope to at least break even in the following quarter leaving the second semester profitable as a whole.”

Q4 2018 for Garuda Indonesia saw the carrier’s financial results disrupted by the continuing eruption of Mount Agung in Bali, with passengers numbers declining as much as 10-15% because of the volcano.

Garuda total income for 2017 is expected to end the year at US$3.4 billion with the Airline expecting that figure to climb 11-12% in 2018.

While Garuda is not prepared to reveal profitability targets for 2018, measures aimed at increasing efficiency and productivity are ongoing across the Airline’s system. Mansury revealed that steps are underway to reduce fuels costs, reduce leasing expenses were now underway, and derive larger profit contributions from the Airlines subsidiaries that provide aircraft maintenance and catering support.

For all of 2017, Garuda will have carried 35-36 million passengers on its domestic and international route network, a number targeted to hit 37-38 million in the coming year.

System wide, Garuda is seeking to increase the utilisation of its aircraft from the current average of 9 hours 45 minutes to 10 hours 15 minutes by means of increasing flight frequencies on a number of routes.

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