GIAA - PT. Garuda Indonesia (Persero) Tbk

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JAKARTA – PT Garuda Indonesia (Persero) Tbk (GIAA) secured net profit of USD 3.7 billion in 2022, experiencing 189.50% year-on-year (yoy) surge from USD 4.17 billion seen in 2021. The achievement resulted from increased income, particularly from the financing restructuring of USD 1.38 billion and debt restructuring of USD 2.85 billion.

In the 2022 Annual Report quoted Monday (3/4), Irfan Setiaputra, President Director of Garuda Indonesia, mentioned that the operating revenue came up to IDR 2.10 billion in 2022, 57.18% yoy higher than USD 1.33 billion seen in 2021.

The operating revenue was made up by scheduled flights of USD 1.68 billion, unscheduled flights of USD 174.81 million, and others of USD 235.29 million. More specifically, scheduled flights revenue in 2022 consisted of USD 1.46 billion from passenger flights and USD 227.86 million from cargo-document transportation. Meanwhile, the unscheduled flights consisted of USD 92.48 million from hajj flights, and USD 82.32 million of chartered flights.

The cost of revenue was seen decreasing to USD 2.51 billion from USD 2.60 billion in 2021. Other sources of operating revenue also generated more in 2022, from USD 3.26 billion to USD 4.35 billion. It led to the profit before taxes of USD 3.93 billion, turning the table around from USD 4.53 billion of loss before taxes in 2021. (LK/ZH)