Garuda quarterly profits surge
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Garuda Indonesia achieved a sharp rise in its profits in the third quarter of 2015.
The national carrier reported a net income of US$51.4 million in the July-September period, compared to a loss of US$220.1m in the same period last year.
The company’s revenues edged up slightly to US$2.84 billion, while expenses declined 12% to US$2.72bn.
“Improvements in the company’s performance are the result of strategic business development measures being carried out through the ‘Quick Wins’ programme, as well as a tight cost efficiency policy that was put into effect at the beginning of the year,” said Garuda’s president & CEO, Arif Wibowo.
He added however, that the company is facing serious challenges from forces majeure, such as volcanic eruptions and haze.
Garuda Indonesia carried 17.69m passengers in the third quarter, 82% of which were on domestic routes.
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