(MENAFNEditorial)
JAKARTA May 19 2015 – The cost efficiency made since early year has brought higher performance to state-owned airline PT Garuda Indonesia Tbk. with the profit of US$113 million in QI/2015 from the previous net loss of US$16804 million.
The achievement in the first quarter of this year made the best realization in the last five years. Previously the GIAA-coded company suffered net loss of US$191 million (2011) US$1071 million (2012) US$3178 million (2013) and US$16804 million (2014).
A source told Indonesia Business Daily Garuda Indonesia earned net profit of US$142 million up to April 2015. In April 2015 GIAA pocketed net profit of US$12 million compared to the negative realization in the last five years.
Garuda Indonesia Director of Finance & Risk Management I Gusti Ngurah Askhara Danadiputra confirmed the company’s positive performance up to April 2015. In 2014 GIAA had always booked negative performance every month.
“Garuda Indonesia managed to control the costs especially non fuel costs. The non-fuel expenses declined by 2% from the previous quarter” the Director told Indonesia Business Daily Saturday (5/9/2015).
According to him the decline of non-fuel expenses became a self achievement since it was made when the capacity rose by 12% and the revenue increased by 10% annually.
Throughout January-March 2015 the airline managed to gain revenue of US$92732 million or IDR1205 trillion 13.44% higher than the revenue in the same period of the previous year at US$81741 million. Read more..
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