Garuda Turns Profitable in 2018
Indonesian National Carrier Garuda Indonesia Makes Dramatic Turn to Profitability in 2018
The Jakarta Post reports that Garuda Indonesia booked a profit in 2018 of US$809,846 literally reversing its fortunes after recording a loss of US$216.58 million the previous year.
The profit and loss report formed part of the annual company report filed with the Indonesia Stock Exchange (IDX).
Garuda’s revenues increased to $4.37 billion in 2018 up from $4.17 billion in 2017.
Kontan.co.id calculates the assets of Garuda increased to $4.37 billion in 2018, increasing significantly from US$3.76 billion since 2017.