Feb 4, 2011

Garuda eyeing Rp27.5 trio revenue

PT Garuda Indonesia (Persero) Tbk is expecting to reach 5%-10% rise in revenue to Rp22 trillion-Rp27.5 trillion this year, following an increase in load factor. 
Assuming the airlines posted Rp20 trillion-Rp25 trillion revenue last year, Garuda estimates to reach Rp22 trillion-Rp27.5 trillion revenue in 2011.
Garuda's Finance Director Elisa Lumbantoruan said  he expects the load factor may increase after Garuda obtains 24 additional fleets at the beginning of this year.
"If we compare, Garuda's load factor reached 71% last year and may increase to 75% after we receive additional new fleets," Elisa said.
During period ended 9 months last year, Garuda posted Rp12.68 trillion revenue, while total assets reached Rp14.22 trillion. Net income was Rp194.87 billion and expected to reach Rp450 billion.  

Disclosure: No position at the stock mentioned above.  

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