Garuda books profit of IDR 5,189 billion in first quarter of 2011

Since launching a strategic expansion program called the Quantum Leap which formulates PT Garuda Indonesia (Persero) Tbk. (Garuda)’s development plans until 2015, it has enjoyed an annual increase in revenue. In the first quarter of 2011, the airline booked IDR 5,189 billion, a 49.7 percent rise against last year’s IDR 3,46 billion.

Setting out the blueprint for Garuda’s future developments, the Quantum Leap lays the foundation for a stronger company that is well-prepared and confident to face future business challenges.

Garuda also experienced significant improvements in other areas of operation. Compared to the 2,502 passengers carried during the same period in 2009, passenger volume rose 42 percent in the first quarter of 2011 to 3,676 passengers. Availability seat kilometer/ASK rose 40 percent reaching 7,35 billion from 5,24 billion seat kilometer in 2010. Meanwhile, rising passenger yield reached 2.9 percent, from USC 8.4 in 2010 to USC 8.6.

Throughout the first quarter of 2011, Garuda’s flight frequency in the domestic sector increased by 23,7 percent, amounting to 23,353 flights, compared to 18,876 flights in the same period last year. Garuda’s international flight frequency also experienced a 27,3 percent improvement in comparison with last year’s performance, from 3,720 flights in 2010 to 4,737 flights.

Passenger load factor also increased by 6,9 percent, from 67,2 percent in the same period of 2010 to 71,7 percent in the first quarter of 2011, while the airline’s OTP was 88.8 percent against 87.8 during the same period last year.

These recent achievements show the company’s resilience in the face of adverse global economic conditions currently faced by the industry as a result of tension in the Middle East, the earthquake and Tsunami in Japan and escalating fuel prices.

In line with Garuda Indonesia’s ongoing fleet development, in 2011 it expects the arrival of eleven new aircraft, consisting of two A330-200 and nine B737-800 New Generation types. Previously in 2010, Garuda had already welcomed 24 new aircraft, consisting of twenty-three Boeing 738-800 Next Generation and one Airbus A330-200.