JAKARTA - PT Indonesia Transport and Infrastructure Tbk (IATA) records US$ 6.76 million of net loss in 2017, after recording a US$10.9 million loss in 2016. However, this year the company set a US$ 20 million revenue target.
Agustinus Wishnu Handoyo, Vice President Director of IATA, states that the loss is due to the decreased revenue, from US$17.1 million in 2016 to US$16.1 million in 2017. “Airplane usage was low last year, due to the decline of oil and gas prices, and it heavily impacted the aviation industry,” said he, in Jakarta.
In 2017, the company’s total account was US$ 77.7 million, lower than the US$94.2 million in 2016. The assets decreased due to aircraft sales. “We revitalised our fleet by selling our old aircrafts,” said Handoyo.
However, the company remains optimistic for the revenue to increase this year, in line with the government policy related to the operation of oil and gas blocks. It should be noted that aircraft maintenance and private jet businesses are essential in adding the company’s revenue. (LK/W)