Garuda reports increase in income in last quarter of 2018

Jakarta (ANTARA News) - The nation's flag carrier Garuda Indonesia recorded an increase in income toward the end of the year on adjustment in its ticket price especially in October and November.

In October, 2018, the airline recorded US$209.3 million in income or a 4 percent increase from US$201.3 million in the same month last year, chief executive of the airline Ari Askhara told reporters here on Friday.

In November Garuda recorded an increase in income to US$232.4 million or 13.4 percent higher than US$205 million in the same months last year.

In the first 11 months of the year, the airline recorded US$2.34 billion or lower than US$2.36 billion in the same period last year.

Its income from cargo transport was recorded at US$24.6 million in October or an increase of 28.1 percent from US$19.2 million in October last year. In November, 2018, its cargo transport income was recorded at US$22.6 million or 4.6 percent higher than US$21.6 million in the same month last year.

Unlike its performance in flight service, which declined, income from cargo transport increased 4.2 percent in the first 11 months of this year to US$208.7 million from US$200.3 million in the same period last year.

Until September 2018, Garuda Indonesia still recorded a net loss of US$131.72 million or 36 percent lower than US$207.49 million in the same period last year.

Ari said he hoped the airline would began to post profit by the end of this year.

Source: ANTARA News

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