AP I hopes to post a 28 percent increase in net profit

Jakarta (ANTARA News) - State-owned airport operator PT Angkasa Pura I (AP I) said it hopes to chalk up Rp1.17 trillion in net profit this year or a 28 percent increase from last years target.

"The strategy to ensure to reach the target is by optimizing Program of Collaborative Destination Development (CDD) with the stakeholders in a number of areas to develop potential tourist destinations in the regions," Chief Executive of PT AP I Danang S Baskoro said in a statement here on Tuesday.

Success in the implementation of the program would result in an increase in frequency of air traffic, Danang added.

For that purpose AP I is proactive in offering the opening of new routes from and to the airports of API I to global airlines with incentives in price discount such as free landing cost, he said.

"Optimization of the performance of subsidiaries would also contribute to reaching the target," he said.

Angkasa Pura I reported a 61 percent increase in profit in the first half of the year compared with the same period last year.

In the first half of 2017, Angkasa Pura I reported Rp885 billion in profit , up from Rp550 billion in the same period last year. The increase was attributable to 17 percent rise in operating income to Rp3.4 trillion from Rp2.9 trillion in the same period last year.

Aeronautic business contributed the largest part of Rp2.05 trillion or 60 percent to the total income. The contribution rose form Rp1.7 trillion or 20.6 percent of total income in the same period last year.

Non-aeronautics business was valued at Rp1.35 trillion or an increase of 13.5 percent from Rp1.19 trillion in the same period last year.

"The significant increase in profit was attributable partly to increase in flight frequency and number of passengers respectively up 2.3 percent and 4.3 percent with cargoes growing 15.6 percent," he said.

Danang said flight frequency increased on the opening of new routes both domestic and international routes.

In addition, the operation of Hotel Novotel Bali Airport under Angkasa Pura Hotel, a hotel subsidiary of Angkasa Pura I.

Source: Antara News

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