Garuda Carter Binsis Increases Fivefold In 2020

JAKARTA - PT Garuda Indonesia (Persero) Tbk (GIAA) recorded unscheduled flight charter revenue until the end of 2020 of 77.2 million United States (US) dollars.

There is also a five-fold increase or the equivalent of 15.6 million US dollars compared to revenue at the end of 2019.

Garuda's Director of Finance and Risk Management, Prasetio noted that in 2020 flight charters experienced an increase of 393.9 percent on an annual basis or year on year (yoy). Prasetio said a significant increase occurred in the fourth quarter of 2020 from 25.4 million to 30.3 million US dollars.

"The total for chartered flights up to 2020 has reached 77.2 million US dollars, compared to 2019, a sharp increase of almost five times, namely 15.6 million US dollars," he said in a virtual press conference, Thursday, August 19.

Prasetio said that ancillary revenue or flight services in the fourth quarter of 2020 reached 9.4 million US dollars, up from revenue in the previous quarter of 7.3 million dollars. However, Prasetio said, on an annual basis, Garuda's ancillary decreased drastically by 48.1 percent due to the COVID-19 pandemic.

"Ancillary income or flight services also increased compared to the third quarter of the year-end position (2020), which increased by 7.3 million dollars to 9.4 million dollars. This was a decrease of 48.1 percent when compared to the end of 2019 position, from 87.3 million. million dollars 45.3 million dollars," he said.

Meanwhile, for the company's operating expenses in 2020, said Prasetio, management recorded a decline from US$4.4 billion to US$3.3 billion, down about 26 percent compared to the previous year.

"Operating expenses, of course, decreased not linearly compared to the decline, where operating expenses had decreased yoy from 4.4 billion US dollars to 3.3 billion US dollars or decreased by about 26 percent compared to the previous year," he said.