JAKARTA - PT Garuda Indonesia (Persero) Tbk (GIAA) posted US$6.46 million in profit for the year in 2019, having posted a US$288.88 million loss in 2018. Aside from higher revenue, the flag carrier's profit growth was also driven by lower operational expenses.
According to the airline's financial report as of December 31, 2019 quoted on Tuesday (31/3), Garuda posted a 5.58% revenue increase to US$4.57 billion from US$4.33 billion in 2018. The largest contributor to the airline's revenue was scheduled flights with US$3.77 billion, followed by non-scheduled flights with US$249.90 million and other income with US$549.33 million.
Garuda's operational expenses in 2019 were recorded at US$4.40 billion, down 4% from US$4.59 billion in 2018. Thus, the airline's operating profit was recorded at US$147.01 billion after posting a US$199.10 billion operational loss in 2018. (LK/MS)