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Garuda Indonesia Group books Net Income of US$9.35 Million for 2016, Maintaining Positive Performance

Posted : 22 March 2017 05:46:52 | By TWO Bureau | New Delhi

Garuda Indonesia Group books Net Income of US$9.35 Million for 2016, Maintaining Positive Performance

National airline PT Garuda Indonesia (Persero) Tbk (GIAA.JK) and its subsidiaries maintained positive performance throughout 2016 with a net profit of US$9.36 Mil, or the equivalent of IDR 124.5 Bil (exchange rate IDR 13.300 per US$), while carrying a total of 35 Mil passengers on both Garuda Indonesia and Citilink Indonesia.

The positive achievement was detailed in the Group's analyst meeting which took place today at Garuda Indonesia headquarters in Cengkareng, and was attended by Garuda Indonesia directors and all the directors of the subsidiaries. The subsidiaries in attendance were Citilink Indonesia, Garuda Maintenance Facility (GMF-AeroAsia), Aerowisata, Sabre, Asyst and Gapura.

"As we know, the trend in growth for the world aviation industry, especially for the Asia-Pacific region, has been under pressure for the last five years, especially as a result of the global economic slowdown that has affected the purchasing power of people, but the Garuda Indonesia Group can still maintain its positive performance," explained President Director of Garuda Indonesia, M. Arif Wibowo to reporters at the occasion.

Referring to the performance review of the Asia Pacific aviation industry released by the passenger yield of the Asia Pacific aviation industry in the past five years has experienced a significant downward trend, from USC 9.6/km in 2012 to USC 6.2/km in 2016. However, the passenger traffic recorded showed an increasing trend from 511.6 Mil passengers in 2012 to 632.8 Mil passengers in 2016.

"The study indicates that despite showing an increase in passenger traffic in the aviation industry in the Asia Pacific region, there has actually been a decreased yield because most carriers have been participating in the expansion of their business development strategy," he said.

"Through its long-term business strategy, "Sky Beyond", the Garuda Indonesia Group was able to maintain profitability with various policies, ranging from the company's efficiency program, proportional consolidation of production capacity, to strengthening the service line and the company's operations. In addition, the company also continued to grow expansively to maintain positive margins and recorded a total consolidated revenue of US$3.86 Bil," added Arif.

Tags : #Garuda Indonesia, # Airlines,

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