Garuda Indonesia Reports Q3 2016 Net Income of US$19.6m

Garuda Indonesia has reported a Q3 21016 net income of USD 19.6 million or IDR 254.8 billion (exchange rate IDR 13,000 per USD).

"Despite the highly competitive season in the aviation industry, including the global economic deceleration which affected the national economic situation, we are quite optimistic of maintaining the positive growth of the company up to the end of this year," said Mr. Arif Wibowo, President & CEO of Garuda Indonesia.

The company has succeeded in increasing total revenue from USD 2.845 billion in 2015 (January - September) to USD 2.865 billion during the same period of 2016. Up to the third quarter of 2016, Garuda Indonesia Group (including Citilink) carried 26,043,138 passengers, which was an increase of 6.1% from the 24,551,594 passengers carried in the same period in 2015.

From the total amount, Garuda Indonesia carried 17.81 million passengers (comprising 14.55 million domestic passengers and 3.26 million international passengers). Meanwhile, its subsidiary, Citilink Indonesia, transported 8.23 million passengers between January - September 2016, which was an increase of nearly 20% from the 6.86 million passengers carried over the same period in 2015.

As a result of the cargo-focused strategy that commenced in early 2016, the amount of cargo transported in January - September period was 295,217 tons, or an increase of 14.7% from the same period in 2015 of 257,304 tons.

Garuda Indonesia and Citilink's flight frequency in the domestic and international sectors during the January - September period rose to 204,182 flights, with an increase of 9.7% from the same period in 2015 with 186,052 flights. In addition, Availability Seat Kilometer/ASK increased by 13.3% to 43.91 billion from 38.75 billion ASK in the same period of 2015.

Despite the challenging situation in operational aspects such as the domestic flights operations at the new Terminal 3 Soekarno-Hatta in early August, and the force majeur by unpredictable weather, Garuda Indonesia increased its on time performance / OTP to 90.1% in the January - September period, from 88.2% in same period last year. The seat load factor / SLF of the period was 73.4%, with an aircraft utilization amount of 09:12 hours.

Garuda Indonesia's market share for domestic routes reached 41.2%, and 26.7% on the international routes.

"We still have time to maximize the power and potency of our strategy, particularly in facing this coming end of year peak season period. We believe that we can reach the continuous positive growth in the coming years, including our strategic plan for international network expansion in the near future," Arif said.

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