Garuda Indonesia revenue up 9% but profits plummet in 2010

Garuda Indonesia revenue up 9% - financial highlights for the 12 months ended 31-Dec-2010 (Antara, 31-Mar-2011):

• Total operating revenue*: USD2244 million, +9.4% year-on-year;
• Operating costs: USD2252 million, +15.7%;
  • Fuel: USD726.6 million, +26.9%;
• Operating profit (loss): (USD7.7 million), compared to a profit of USD105 million in p-c-p;
• Profit before tax: USD8.7 million, -91.3%;
• Net profit: USD59.2 million, -49.4%;
• Total assets: USD1570 million, -7.7%;
• Cash and cash equivalents: USD135.3 million, -31.6%;
• Total liabilities: USD1173 million, -11.9%;
• Passenger numbers: 13.0 million, +26.2%;
• Load factor: 71.7%, -1.4 ppt;
• On-time performance: 80.2%;
• Passenger yield: USD 8.60 cents, +13.7%. [more]

* Based on the conversion rate USD1 = IDR8,705