Garuda profits rise in 2008
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Garuda Indonesia has posted an annual profit of IDR683 billion (US$61 million) for 2008 - significantly up from IDR258 billion in 2007, Bisnis.com reported. The results were announced by the Indonesian national carrier’s President and CEO, Emirsyah Satar, at a luncheon celebrating the financing of 8 new Boeing 737-800NG aircraft.
Satar also reported that Garuda’s on-time performance improved in 2008 with 84.1% of all flights departing on schedule. In 2007, the figure was just 76.7%, the report said, adding that Garuda is targeting an 85% on-time rate in 2009.
The airline’s load factor in 2008 fell slightly to 76.5%, as compared with 77.5% in 2007.
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