Garuda reverses operating profit to $10.8 million in 1H
Published: August 7, 2012
Garuda Indonesia (GA) has reported a first-half operating profit of $ 10.8 million, reversed from a loss of $ 34.8 million in the year-ago period. GA also reported an operating income of $ 1.51 billion, up 17.7% from $ 1.29 billion in the year-ago period. It did not report expenses or other financial data.
GA attributes the turnaround to its Quantum Leap 2011-2015 strategic plan, which resulted in a steep rise in passengers carried to 9.6 million, up 22.4% from 7.9 million year-over-year. ASKs were 17.78 billion, up 13.9% from 15.6 billion in 2011. Load factor was 74.8%, up from 73.5% in the year-ago period.
Looking ahead, GA said in the second half it will take delivery of a further 10 aircraft, comprising one Airbus A330-200, four A320s and five Bombardier CRJ1000 Next Gens, bringing deliveries for the year to 20.
By the end of the year, the carrier will have 105 aircraft in its fleet, with an average age of 5.8 years.