Garuda reports profit in 2015 after losses in 2014

Tangerang, Banten (ANTARA News) - The national flag carrier Garuda Indonesia reported US$78 million in profit in 2015 as against a loss of US$368.9 million in the previous year.
M Arif Wibowo, president director of the publicly traded airline attributed the improvement in financial performance to improve efficiency.
"Garuda applies Quick Wins strategy in its short term steps," Arif said here on Friday.
He said the operating revenues of the airline fell slightly to US$3.81 billion in 2015 from US$3.98 billion in 2014.
Meanwhile, its operating cost also declined 15.8 percent to US$3.64 billion in 2015 from US$4.33 billion in 2014.
Arif said Garuda served 250,088 flights in 2015 or 9.5 percent more than 228,329 flights in 2014.
Availability seat kilometer (ASK) also increased 3.4 percent to 51.86 billion from 50.15 billion seat kilometer in 2014.
"Revenue Passenger per Kilometer (RPK) in 2015 rose 11.3 percent to 40.05 bio from 35.99 bio in 2014," he said.
Its seat load factor (SLF) in 2015 rose 5.4 percent from 71.8 percent to 77.2 percent with utilization of aircraft of 9:01 hours and on time performance (OTP) of 88 percent.
"Garuda Indonesia also succeeded in expanding its market share on the domestic market as well as in international markets," he said.
In 2015, its share of the domestic market was 43 percent, up from 38 percent in 20154 and its share of international market rose to 27 percent from 23 percent.
By the end of 2015, Garuda Indonesia and its subsidiary Citilink, operated 187 aircraft including 154 units of "narrow bodied aircraft (Boeing 737-800 NG, Airbus A320, Boeing 737-300, Boeing 737-500, CRJ 1000 and ATR 72-600), and 33 units of wide bodied aircraft (Boeing 777-300ER, Airbus A330-200/300, and Boeing 747-400), averaging 4.3 years in age.(*)