Garuda Indonesia Loss Shrinks 12.54 Percent To IDR 1.25 Trillion In The First Quarter Of 2025

Garuda Indonesia (Photo: dock. Antara)

JAKARTA - PT Garuda Indonesia (Persero) Tbk recorded a net loss of US$75.93 million or equivalent to Rp1.25 trillion (assuming an exchange rate of Rp16,540 per US dollar) in the first quarter of 2025.

Based on Garuda's financial reports, the net loss shrank by 12.54 percent compared to the first quarter of 2024 of 86.82 million US dollars.

"The net loss is mainly due to the financial burden of 124.57 million US dollars, which among other things is the commitment to restructuring financing, as part of a long-term turnaround strategy," said Garuda Indonesia President Director, Wamildan Tsani in an official statement, Wednesday, May 7.

The shrinkage of net losses is in line with the increase in operating income of US$723.56 million. This figure increased 1.63 percent compared to the same period the previous year.

In detail, the revenue from the scheduled aviator was US$603.7 million, up 0.8 percent on an annual basis (yoy). Then, flight revenues were not scheduled or chartered amounted to US$37.96 million, up 92.8 percent (yoy). Meanwhile, other income fell 12.2 percent (yoy) to 81.92 million US dollars.

In terms of finance, Garuda Indonesia also managed to record a net cash flow from operating activities of US$162.27 million, an increase of 87.15 percent compared to the same period last year.

Furthermore, the Military Commander said that this positive growth was mainly supported by increased traffic on the Umrah charter market.

The soaring character performance is an important catalyst in strengthening business foundations. At the same time, we are also accelerating the capacity optimization program through the addition of fleets, with a target of reaching 100 aircraft by the end of 2025," said the Military Commander.

During the first quarter of 2025, charter passenger traffic was recorded at 24,618 passengers or grew 104 percent compared to the same period last year. This was also reflected through 69 flights contributed by Umrah charter passengers.

In addition to growth from charters, this revenue is also supported by an increase in passenger and cargo volume. Throughout January to March 2025, Garuda Indonesia Group carried 5.12 million passengers, consisting of 2.64 million Garuda Indonesia passengers and 2.48 million Citilink passengers.

"The seat occupancy rate (seat load factor) was recorded at 78.8 percent, up 5 percent compared to the first quarter of 2024," he said.

In the cargo sector, transportation volume increased 5 percent to 58,145 tons, consisting of 34,715 tons by Garuda Indonesia and 23,430 tons by Citilink.

"This performance shows gradual acceleration of recovery in the cargo business line which had experienced a slowdown after the pandemic," he said.