Indonesian flag carrier PT Garuda Indonesia Tbk (GIAA) estimates to post a 10% growth in revenue in the first quarter of this year as the airlines booked passengers more than 10%.
"When passengers volume increase, our revenue will augment," said Garuda President Director Emirsyah Satar as reported by Kontan daily today.
However, he has yet mentioned the first quarter's revenue and target throughout this year. In 2010, Garuda posted Rp19.53 trillion revenue, a 9.4% increase from a year earlier.
Disclosure: No position at the stock mentioned above.
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