Garuda Indonesia Claims To Have Succeeded In Reducing Group Losses By Up To 42 Percent In The First Quarter Of 2022

Garuda Indonesia aircraft. (Photo: Wikimedia Commons)

JAKARTA - Garuda Indonesia President Director Irfan Setiaputra claimed that along with various strategic steps taken by the company, especially in optimizing the cost structure and restructuring performance, Garuda managed to reduce a loss of 42 percent as a group in the first quarter of 2022.

"In the first quarter of 2022 Garuda Indonesia as a group recorded a decrease in realized losses of up to 224.14 million US dollars, or a decrease of 42 percent compared to the first quarter of 2021 of 385.36 million US dollars," Irfan said in an official statement, in Jakarta, Tuesday. , August 2nd.

Irfan said, this achievement was achieved with a decrease in the company's operating expenses at the beginning of 2022 which was recorded at 526.34 million US dollars in the first quarter of this year.

"The bookkeeping of operating expenses is 25 percent lower than last year's record operating expenses of 702.17 million US dollars," he said.

The decrease in operating expenses was implemented in a number of expense lines such as flight operational costs, maintenance, repairs, general-administration, airport expenses, passenger services, hotel operations, transportation and network.

Furthermore, Irfan explained that in the first quarter of 2022, Garuda Indonesia also recorded consistent operating revenues in the range of US$350 million compared to the same period last year.

Meanwhile, the achievement of operating revenues came from the scheduled flight segment which became the largest contribution with a total of 270.57 million US dollars, followed by non-scheduled flights and others with 24.07 million US dollars and 55.50 million US dollars, respectively.

"The more controlled the pandemic and which also contributes to increasing community mobilization and opening flights between countries, of course, is a positive signal to accelerate the performance recovery steps that the company continues to optimize," said Irfan.

Irfan believes that the strategy and business plan that continues to be discussed intensively, taking into account the condition of people's travel activities, especially through air transportation, which is increasingly showing a positive trend, as well as the company's burden of liabilities which has fallen significantly through the PKPU process, is expected to accelerate the recovery of the company's performance.

"At the same time realizing Garuda Indonesia as a simple and profitable business," concluded Irfan.