Tuesday, March 3, 2009

Garuda Profit More Than Doubles

PT Garuda Indonesia, the national biggest airline, said net income more than doubled last year
after it carried more passengers.

The airline had a profit of 683 billion rupiah ($57 million), 115 percent more than a year earlier, the company said in a presentation today.

Garuda passenger numbers gained 9 percent to 10.02 million last year, bolstered by growth in Southeast Asia largest economy and tourist arrivals to island resorts such as Bali.

The profit-surge contrasts with that at carriers such as Singapore Airlines Ltd. and AirAsia Bhd., which are either reporting lower profits or turning to a loss.

Airlines worldwide lost as much as $8 billion last year following a larger-than-expected fourth-quarter decline prompted by the recession and fuel-hedging losses in the period, the
International Air Transport Association said yesterday.

The closely held airline also said its leasing eight Boeing Co. 737-800 aircraft from Dubai Aerospace Enterprise in a contract valued at an estimated $360 million. Dubai will take
over Garuda contract with Boeing to buy the aircraft, part of a 50-plane order, it said. The first aircraft will be delivered in June under a 10-year lease.

The state-owned airline may increase passenger numbers 20 percent this year, it said.

1 comment:

Sabda Alam said...

Mas, ente punya emailad dresso pos sih?
(tme)