Garuda goes back to black
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Garuda Indonesia is targeting a net profit of IDR518 billion (US$55.1 million) for the year 2008, double the IDR259 billion profit booked a year ago.
Chief Executive Officer of Garuda, Emirsyah Satar, told Bisnis Indonesia that he was optimistic that the targeted profit can be achieved against forecasted income for the year of IDR17-18 trillion (US$1.86 billion), a Bali Update (www.balidiscovery.com) report said.
Emirsyah confirmed that Garuda has ordered 50 Boeing 737-800, four of which have already arrived in Indonesia and entered into service. Two more new planes are scheduled to arrive before year’s end with another 20 expected to enter service next year, the report said.
While the Boeing 737-800 aircraft are earmarked for domestic and regional routes, Garuda has also ordered 10 new Boeing 777 aircraft slated to begin flying to Europe in 2010.
The report said the new aircraft were on sale-lease agreements with plans to re-open flights to Amsterdam and London once the current black-listing of Indonesian-registered aircraft is lifted by the European Union.
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