Garuda Indonesia is targeting a net profit of Rp. 518 billion (US$55.1 million) for the year 2008, an increase of 100% over the Rp. 259 billion profit booked in 2007.
The CEO of Garuda, Emirsyah Satar, told Bisnis Indonesia that he is optimistic that the targeted profit can be achieved against forecasted income for the year of Rp. 17 – 18 trillion (US$1.86 billion).
Satar said, "the increase in income is mainly due to services operated domestically and regional routes in Asia."
Airplanes on Order
Satar confirmed that Garuda has ordered 50 Boeing 737-800, four of which have already arrived in Indonesia and entered into service. 2 more new planes are scheduled to arrive before year's end with another 20 expected to enter service in 2009.
While the Boeing 737-800 aircraft are earmarked for domestic and regional routes, Garuda has also ordered 10 new Boeing 777 aircraft slated to begin flying to Europe in 2010.
Garuda's new aircraft are being obtained via sale-lease agreements with plans to re-open flights to Amsterdam and London once the current black-listing of Indonesian-registered aircraft is lifted by the European Union.
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