Garuda Indonesia poised to trim losses with Idul Fitri traffic
In this article (4)
After suffering US$89.49 million in losses during the first quarter of the year, PT Garuda Indonesia is poised to see a recovery in the second quarter, especially in the June and July months that encompass the Idul Fitri holiday.
Garuda Indonesia president director Pahala N. Mansury said the second quarter offered good prospects and the Idul Fitri exodus would help improve the company’s accumulative performance in the first semester.
In the first quarter of 2016, the state-owned flag carrier booked $74.48 million in profits, but still suffered $63.2 million, or around Rp 824 billion, in losses.
“Even if the losses have yet to be covered, hopefully we can at least push the losses down,” he said after accepting an award from TripAdvisor as one of the top 10 best airlines in the world on Friday.
He also denied accusations from Rizal Ramli about the company’s lavish spending and potential corruption in the purchase of an Airbus A350.
“We don’t have an Airbus A350 and thus the statement is not true,” he said, adding that the company was currently focused on optimizing efficiency.
Questions & Answers
Q.How much did Garuda Indonesia lose in the first quarter of this year?
How much did Garuda Indonesia lose in the first quarter of this year?
PT Garuda Indonesia suffered US$89.49 million in losses during the first quarter. This figure represents a decline from the same period in 2016, when the company also recorded significant losses despite some profits.
Q.What period does Garuda Indonesia expect to see a recovery in their performance?
What period does Garuda Indonesia expect to see a recovery in their performance?
Garuda Indonesia anticipates a recovery in the second quarter, specifically during June and July. This period is expected to benefit from increased traffic due to the Idul Fitri holiday, helping to improve first-semester performance.
Q.Has Garuda Indonesia purchased an Airbus A350, as alleged?
Has Garuda Indonesia purchased an Airbus A350, as alleged?
No, Garuda Indonesia has denied purchasing an Airbus A350. President director Pahala N. Mansury stated that the company does not possess this aircraft type, refuting accusations about lavish spending and potential corruption.
Reader pulse
Will Idul Fitri fully cover Q1 losses?
22,242 votes so far