News
Garuda Indonesia’s losses year-to-date hit US$72.4 million
November 7th 2023
Garuda Indonesia has returned to the red in the nine months to September 30 against a net profit of US$3.7 billion in the same three quarters in 2022. Read More » Revenue rose 48.3%, to US$2.2 billion, Garuda said in a regulatory filing. The company said its debt restructuring program last year, which was the reason for the positive financial results in 2022, was a success. The newly released financial accounts also included Garuda's proposed fleet delivery timetable of recovering nine A330-900s between 2026 and 2031 and A330-800s from 2027 and 2030 to operations. “The group has considered the adjustment made to the aircraft purchase plan, based on its operational restructuring strategy, and recorded a provision for advances for purchase of aircraft in accordance with those plans,” Garuda said.
