16-Aug-2010 11:27 AM

Garuda Indonesia profit slumps by more than 50% in 1H2010

Garuda Indonesia reported a 56.3% year-on-year slump in net profit to IDR175 billion (USD19.5 million) in 1H2010 (Antara News, 14-Aug-2010). Garuda Planning and Information Director, Elisa Lumbantoruan, stated the carrier expects 2H2010 profit to increase due to the introduction of new aircraft and increased passenger traffic. Garuda is targeting a 10% to 15% increase in profits for the full year.