Garuda Indonesia posts US$19.6m net income in third quarter 2016

Garuda Indonesia, the national flag carrier, reported net income of US$19.6m or IDR254.8bn (exchange rate IDR 13,000 per USD) during the third quarter (July – September period) of 2016 as an outcome of the initial implementation of the ‘Sky Beyond’ strategy, with a focus on return maximization as well as the continuous proportional implementation of the financial efficiency policy. Total revenues increased from US$2.845bn in 2015 (January – September) to US$2.865bn 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.