News
Garuda reports third quarter results and reduces London service
November 4th 2016
Garuda Indonesia this week posted a third-quarter net profit of $19.6 million, down 11.6% year-on-year, but a significant improvement over this year’s $63.2 million first-half loss. Read More »
In the quarter to September 30, the flag carrier’s operating revenue increased 9.5%, but costs rose by 10.9%. The SkyTeam member added 19.3% in international capacity during the period amid a 2.9% load factor decline, to 77.3%, and 2.2% lower yields. Domestically, Garuda added 3.9% extra capacity to its services, which resulted in a small load factor, but yields improved 2.7%.
Citilink, Garuda’s LCC subsidiary, contributed 13% to group revenue, with its net profit more than doubling during the quarter, to $10 million.
Starting last week, Garuda reduced its Jakarta-Singapore-London B777-300ER route from five days a week to three. London is the airline’s sole destination in Europe. Early next year, Garuda plans to launch routes to Chengdu and Mumbai.
