Garuda`s profit climbs 216 percent to $61.9 million

Jakarta (ANTARA News) - National flag carrier Garuda Indonesia saw its net profit skyrocketing 216.1 percent to US$61.9 million in the third quarter of 2017 compared to the same period last year.

The net profit hike was fueled by operating revenues which rose 11.2 percent to US$1.22 billion from US$1.10 billion, the airlines acting VP corporate secretary Hengki Heriandono said in a press statement released on Saturday.

Hengki said the positive growth was attributable to the improving performance of the company in all aspects, including financial, operational and service aspects in line with its "5 quick wins" strategy.

The strategy deals with fleet cost optimization, service level improvement, routes optimization, channel optimization with focus on digital to become IT-Based airline, and enhanced revenues management system, he said.

"The effort has begun to show a significant yield as reflected by positive growth achieved particularly from international routes, fleet utilization rate and contribution from e-commerce platform to the revenues," he said.

Hengki said Garuda Indonesia recorded an operating income of US$3.11 billion in the January - September 2017 period, up 8.6 percent from US$2.86 billion in the same period last year.

In the meantime, Garuda Indonesia also successfully kept down net losses in the January-September 2017 period to US$76.1 million excluding extraordinary items, from US$137.9 million in the first half of 2017.(*)