Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · When it Rains, it Pours.
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

When it Rains, it Pours.

Despite Rising Revenues, Garuda Indonesia Books a Q1 2011 Loss of US$21.9 million.


Bali News: Garuda, Indonesia, industrial action, IPO, share price, profit, loss
Click Image to Enlarge

(7/31/2011)

The Indonesian national carrier Garuda Indonesia is plagued by a host of problems: an IPO launch that fell far short of anticipated revenue targets; a depressed share price trading at more than 30% below the price pegged during the IPO; and industrial-relations problems with its pilots. Adding to the misery, news from the Jakarta Globe that for the first six months of 2011 Garuda has suffered a loss of Rp. 185.7 billion (US$21.9 million).

Compared to the same period just one year ago when Garuda earned a profit of Rp. 60.6 billion, the company's profits have declined by more than 400%.

The CEO of Gaurda, Emirsyah Satar, insists the loss incurred by his airline is less worhty of note than the fact that the Indonesian national carrier has managed to enhance revenues by 68.7% to Rp. 11.2 trillion
(US$1.27 billion) in the H1 of 2011.

Emirsyah blames the bad profit figures on rising operating costs, chiefly fuel and personnel. Said the Garuda CEO, 

“fuel remains a major uncertainty for us, but we managed to boost revenue.”

Fuels costs for the airline at Rp. 6.3 trillion have increased 165% in Q1 2011 as compared to Q1 2010. Meanwhile, administrative expenses, including wages, cost Rp. 920 billion in Q1 2011, an increase of 43.3% over the same period in 2010.

Emirsyah thinks the overall strength of the Indonesian economy and strong revenues expected during the coming Haj pilgrimage seasons will in time boost the airline’s profits.

Explained Emirsyah: “Generally, our strategy has not changed. We will keep investing in promoting sales and ticketing so that we can fill our seats, focusing on the domestic market by boosting frequency, expanding and rejuvenating our fleet, increasing the quantity and quality of our human resources and maintaining cost discipline.”

The finance director of Garuda, Elisaa Lumbantoruan, told the press that the airline is expanding its route network, increasing fares and focusing on business class to boost revenues to offset high fuels costs. As a cash-saving measure, Garuda has also cut back on its order for new aircraft for its budget subsidiary Citilink from 15 new aircraft to 10. The national carriers will, at the same time, and add 5 planes to its current fleet of 86 aircraft.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Working to Preserve and Promote Bali Arts
Bale Banjar Culture Club to Feature Peter J. Wilson and Made Sidia – World Renowned Producers of Balinese Stage Performances
(4/15/2018)
Does Bali Already Have a Second International Airport?
Editorial: A Practical Perspective on a Second Airport for Bali
(4/15/2018)
Shopping on Touchdown in Bali
New Duty Free Shopping Area for International Passengers Arriving in Bali
(4/15/2018)
Seeking Wider Horizons of Understanding
TEDxUbud Event Set to Stimulate Innovation and Creativity on Saturday, May 5, 2018
(4/15/2018)
Keeping the News Cycle Positive
Udayana Military Commander Calls on Media to ’Self-Censor’ and Avoid Controversial Reporting in Run-Up to IMF-World Bank Meeting
(4/15/2018)
Fugitives No More
Fugitive German and Indonesian Wife Captured by State Prosecutors to Start Serving Prison Sentences Handed Down in Bali Property Scam
(4/15/2018)
Enhancing the Quality of Bali Visitors
Tourism Ministry Outlines How Bali Can Attract Higher Quality Tourist Visitors
(4/15/2018)
Roll Out the Barrels
Australian Government Assisting Bali in Conquering Mounting Trash Problem
(4/15/2018)
The Rainbow Connection
Green Peace’s Rainbow Warrior Uses Bali Visit to Fight Coal-powered Electricity, Plastic Pollution and Lend Support to ForBALI’s Fight Against Reclamation of Benoa Bay
(4/15/2018)
Friday the 13th in Bali
Tourist Bus Kills One Man and Damages 6 Cars and 2 Motorcycles in Spectacular Chain-Collision Near Bali’s GWK Monument
(4/15/2018)
3-Month Sticker Visas for Vehicles Visiting Bali
Bali Government Seeking to set 3-month Limit on the Amount of Time Cars Registered Outside Bali can Spend in the Province
(4/15/2018)
Shown the Door
North Bali Immigration Deports Dutch Husband and Wife for Illegally Operating Two Rental Villas
(4/15/2018)
All [News]!