Garuda Indonesia reports strong revenue growth

Garuda Indonesia reports strong revenue growth

Indonesia’s national airline, Garuda Indonesia has announced its third quarter consolidated operating revenue of $2.39 billion, an increase of 14.4 per cent, compared to the $2.08 billion earned in the same period last year.

In addition, the airline booked an income from operations of $92.75 million, which is a significant 140.4 percent rise compared to $38.60 million last year.

Comprehensive income also increased by 108.2 per cent, from $29.2 million in the same period in 2011 to $60.8 million in the third quarter of 2012.

Improved performance in various areas of operations, such as increased passenger and cargo volumes contributed positively to the increase in revenue and income.

Up till the third quarter of 2012, Garuda Indonesia transported as many as 14.8 million passengers, or an increase of 20.2 per cent compared to the 12.3 million passengers carried in the same period last year.

Meanwhile, throughout the third quarter of 2012, cargo volume also experienced an increase of 18.7 per cent, making the amount of cargo transported 201 tonnes, compared to the amount of 169 tonnes carried in the same period in the previous year.

Availability seat kilometre/ASK also rose in tandem with the increase in flight frequency as a result of the arrival of new aircraft in Garuda Indonesia’s fleet.

ASK increased by 11.7 per cent, from the 24.05 billion to 26.87 billion. Flight frequency also increased by 17.2 per cent, from 95 thousand flights in the same period in 2011, to 111 thousand flights.