Jul 29, 2011

Still, Garuda suffers operating loss!

Indonesian flag airlines PT Garuda Indonesia Tbk (GIAA) reported Rp340.79 billion operating loss for the first 6 months of this year, narrowed 26.47% from Rp463.46 billion a year earlier.
In the financial statement published today, Garuda's operating loss was contributed by an increase of 40.63% in operating expenses to Rp11.56 trillion in 1H 2011 from Rp8.22 trillion.
However, the airlines' operating revenue rose 44.59% to Rp11.22 trillion from Rp7.76 trillion. Due to operating loss, Garuda suffered a Rp187.31 billion net loss, a 436.34% from net profit of Rp55.69 billion.
 
Disclosure: No position at the stock mentioned above.  

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