Garuda Indonesia posts 51.9% jump in net profits
National flag carrier PT Garuda Indonesia (GIAA) reports that in the first nine months of this year its total revenues grew 14.4 percent to US$2.39 billion and its net profits climbed 51.9 percent to $56.48 million.
The total number of passengers rose 20.2 percent to 14.89 million, while cargo surged 18.7 percent to 201,070 tons. In addition, its flight frequency increased by 17.2 percent to 111,251.
"œIndonesia's trade relations with other countries continue to grow. The government's MP3EI [the Acceleration and Expansion of Indonesia's Economic Development Master Plan] and the regional autonomies also played a role in our business development," Garuda president director Emirsyah Satar said in Jakarta.
Garuda's operating revenue was up 14.4 percent to $2.39 billion between January and September 2012. The majority came from its scheduled airline, with 89.2 percent ($2.13 billion), followed by non-scheduled airline and others, with 2.5 percent and 8.2 percent respectively.
Even though the scheduled airline dominated operating revenue, the highest growth in this period was posted by the non-scheduled airline. Revenue from the non-scheduled airline jumped to $60.5 million.
Read full story: thejakartapost.com
Posted: 28 Oct 2012 13:53:56