Citilink reports USD 67.8m in 2019 profit

Citilink, an Indonesian low-cost carrier, has reported a 2019 operating profit of USD 67.8 million, returning profitability for the Garuda Indonesia subsidiary, the company said.

In 2018, the airline recorded an operating loss of USD 54.6 million.

Revenue for the year ended 31 December 2019 was up 17.2% to nearly USD 844 million. It also posted a net profit of USD 42.6 million, compared to the net loss of USD 42 million in 2018.

Citilink was able to raise its yields by 44.6% to 7.7 cents in 2019, despite passenger numbers for the year falling 17.6% to 12.2 million. Although its ASK declined 8.5%, RPK fell by a larger 17%, and seat load factor was down 7.6 percentage points to 75.2%.

Garuda said Citilink will continue to focus on the low-cost market, both domestically and internationally, and to operate turboprop aircraft transferred by its parent. The transfer began in 2019, and will continue into 2020.

Citilink currently operates 38 Airbus A320ceo and 10 A320neo aircraft, two A330-900neos, six ATR 72-600s, and one Boeing 737-500 freighter.