Garuda posts USD 147m in profits in 2019

Garuda Indonesia has announced a USD 147m operating profit in 2019, compared to a USD 199m operating loss in 2018, the company said.

Revenue grew 5.6% to USD 4.57 billion, driven by a 6.9% increase in passenger revenue.

Total costs declined by 4% to USD 4.4 billion, as the group carrier tightened its belt. Costs relating to flight operations, aircraft maintenance and passenger services were all cut. There was, however, a 16% rise in expenses relating to ticketing, sales and promotional activities.

The airline was also profitable at a net level in 2019, at USD 7 million, reversing a USD 232 million net loss in 2018.