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Tuesday, 11 February 2014, 17:00 HKT/SGT

Source: Garuda Indonesia Group
Garuda Indonesia Ends 2013 with an Operating Revenue of USD 3.72 Billion
- Passenger and cargo volume transported increased by more than 20 percent
- Garuda successfully paid off debt amounting to USD 130 Million

JAKARTA, INDONESIA, Feb 11, 2014 - (ACN Newswire) - PT. Garuda Indonesia (Persero) Tbk. ("Garuda") (IDX:GIAA) ended 2013 by booking an Operating Revenue of USD 3,72 billion, an increase of 7 percent compared to 2012's USD 3,47 billion. Passenger Revenue also increased 10 percent, from USD 2,69 billion in 2012, to USD 2,96 billion in 2013.

Meanwhile Operating Income decreased by 66.4 percent, amounting to USD 56.4 million, compared to the amount of USD 168.1 million received in 2012. Income for the period also declined from USD. 110.8 million in 2012 to USD 11.2 million in 2013.

Garuda Indonesia President & CEO, Emirsyah Satar, said that Garuda Indonesia's financial performance in 2013 was influenced by rupiah's decline against the US dollar. Besides, in 2013 Garuda also focused on funding new airplanes to support increasing operations-for either Garuda or Citilink. "Apart from that, despite receiving less in income, in 2013 Garuda managed to pay off debt amounting to a total of USD 130 million; consisiting of USD 55 million from Citi Club Deal-1, and USD 75 milion from Indonesia Exim Bank" added Emir.

In 2013, Garuda Indonesia transported 25 million passengers; an increase of 22.3 percent compared to the 20.4 million passengers in 2012. Production capacity (availability seat kilometer/ASK) in 2013 also increased by 19.8 percent, from 36 billion in 2012 to 43.13 billion in 2013. Garuda Indonesia also succeeded in increasing cargo volume to 345.923 tons, a rise by 23.4 persen from last year's 280.285 tons. Passenger "yield" declined (6.1 persen) from USc 9.65 in 2012 to USc 9.1 in 2013.

Throughout 2013, Garuda Indonesia's domestic and international flight frequencies also experienced an increase by 28.1 percent from 153,266 flights in 2012 to 196,403 flights.

Meanwhile, as it continues to carry out network and fleet expansion throughout 2013, Garuda Indonesia managed to maintain Aircraft Utilization at 10:44 hours. Seat Load Factor/SLF reached 74.1 percent, a slight declline compared to last year's 75.9 percent and On Time Performance (OTP) in 2013 reached 83.8 percent, compared to 84.9 percent last year.

In 2013, Garuda Indonesia international market share was 23.5 percent; whereas in previously in 2012 reached 24.1 percent. Meanwhile, market share for domestic passengers in 2013 was 28 percent, a slight decrease compared ro last year's 28.2 percent.

In 2013, Garuda Indonesia Group received 36 new aircraft consisting of four (4) Boeing 777-300 ER, two (2) Airbus A330-200, one (1) Airbus 330-300, ten (10) Boeing 737-800 Next Generation, seven (7) Bombardier CRJ-1000 NextGen, two (2) ATR 72-600, dan ten (10) Airbus A320 for Citilink, making the total number of aircraft in operation throughout 2013 140 airplanes of aged on average 5 years old.
Operational Expansion and Improved Service in 2013

In line with the growth in the domestic and international airline markets, in 2013 Garuda opened several domestic and international services, such as Bandung - Denpasar, Batam - Pekanbaru, Balikpapan - Banjarmasin, Balikpapan - Menado, Balikpapan - Berau, Jakarta - Bengkulu, Jakarta - Tanjung Pandan, Jakarta - Tanjung Pinang, Makassar - Sorong - Manokwari - Jayapura, and Surabaya - Singapore, Denpasar - Brisbane, Jakarta - Osaka, and Jakarta - Perth.

Through a partnership with Etihad Airways, in 2013 Garuda increased service to six new destinations in Europe and the Middle East served by the United Arab Emirate carrier, namely to Frankfurt, Brussels, Milan, Dusseldorf, Munich, and Bahrain.

In May 2013, Garuda opened its Medan hub to serve fllights (increase connectivity) in the western region of Indonesia. Through this Medan hub, Garuda Indonesia serves direct flights from Medan to the surrounding cities, such as Pekanbaru, Batam, Palembang, Padang, Aceh and Penang. To serve flights out the Medan hub, Garuda operates the CRJ1000.

In July 2013, Garuda introduced a "New Service Concept" that brings "First Class" service on board its new Boeing 777-300 ER fleet, as well as new and improved "Executive Class" and "Economy Class" services.

As part of efforts to strengthen its network in the domestic sector, in November 2013, Garuda Indonesia introduced the sub-brand, "Explore" - following the addition of the ATR72-600 turboprop in the airline's operational fleet. Besides the "Explore" sub-brand, Garuda Indonesia also launched the "Explore Jet" sub-brand with the operation of a Bombardier CRJ1000 NextGen fleet since October 2012 to serve Garuda Indonesia flights in the eastern and western regions of Indonesia.

Awards and Appreciation in2013

In line with the airline's continuous business transformation program, in 2013 Garuda Indonesia once again was awarded with narious appreciations and awards in the field of Service, Operational, Human Resources Development, and Good Corporate Governance, amounting to a total of 82 awards - 59 local awards, and 23 international awards.

During the "Paris Airshow" n June 2013, Garuda was named the"World's Best Economy Class 2013" and "Best Economy Class Airline Seat 2013"from Skytrax - an independent airline ranking organization based in London. Garuda Indonesia also ranked eighth out of ten top world airlines by SkyTrax.

Furthermore, throughout 2013 Garuda Indonesia also received several international awards, such as the "Asia Pacific Airline Food Awards 2012" as "The Best Long-Haul Airline Food" and "Top 5 Short-Haul Airline Food" from Skyscanner, "The Best Airline Hajj Season 1433H/2012" from the General Authority of Civil Aviation (GACA) King Abdul Aziz International Airport, "ASEAN Premium Airline of the Year" from Frost & Sullivan, and "Domestic Airline of the Year 2012" in the Customer Satisfcation Award by Roy Morgan. Garuda Indonesia was also ranked seventh in the list of "20 Best Airlines in the World" released by US business and technology magazine, Business Insider.

Throughout 2013, Garuda Indonesia received several awards in the country , such as "The Most Admired Company 2013" for the category of "Infrastructure, Utilities, and Transportation" and "Top 3 The Most Admired Companies 2013" in the Cross Sector Industry from the Fortune Indonesia magazine, "Contact Center Service Excellence Award 2013" from Carre - Center for Customer Satisfaction & Loyality , "Indonesia Service to Care Award 2013" from Marketeers - Markplus Insight, "Aksi Untuk Bumi 2013" (Action for Earth) award in the business category from WWF Indonesia and Komunitas Earth Hour Indonesia, and an award for SBU Garuda Cargo participation's in ensuring the successful implementation of the system, National Single Window (NSW) Airportnet Soekarno-Hatta International Airport in support of the Indonesia National Single Window (INSW) from the Minister of Communication of the Republic of Indonesia.

Meanwhile, several international institutions acknowledged Garuda Indonesia's GCG implementation by presenting Garuda with the following awards: "1st Rank Top 100 Annual Reports Worldwide", "1st Rank (Platinum Award) category Aerospace & Defence", "1st Rank (Platinum Award) category Transportation & Logistics", "Special Achievement Award: The Most Engaging Annual Report (Platinum) Worldwide" in the "2011/2012 Vision Awards Annual Report Competition" by the League of American Communications Professionals (LACP).

Corporate Plans 2014

In line with Garuda's program to become a 'global player', in March 2014 Garuda will officially join SkyTeam global alliance. With Garuda's entry into the global alliance, customers will be offered broader network and services to 1.024 destinations worldwide.

As part of the fleet expansion program, in 2014 Garuda Indonesia plans to welcome 27 new aircraft consisting of two (2) B777-300 arcraft, four (4) A330 aircraft, twelve (12) B738 aircraft, three (3) CRJ aircraft, and six (6) ATR 72-600 aircraft. Thanks to the new fleet, by the end of 2014 Garuda will have a fleet of aircraft aged an average of 4.5 years.

As part of efforts to develop its flight network, in 2014 Garuda will open several new international routes to London, Manila and Mumbai.

In addition, this year Garuda will complete Citilink's IPO, the acquisition of Gapura Angkasa, and a dedicated terminal in Denpasar. This year, Garuda Maintenance Facilities (GMF) will operate a new hanggar- which can accommodate up to 16 narrow-body aircraft for maintenance.

About Garuda Indonesia Group

Presenting a new level of service excellence in air travel, Garuda Indonesia, the national airline of Indonesia, seamlessly connects 83 destinations worldwide, including exotic locations across the beautiful archipelago of Indonesia. With more than 600 daily flights and a fleet of 196 aircrafts by January 2017, Garuda Indonesia proudly serves its passengers with the award-winning distinct service "Garuda Indonesia Experience", highlighting Indonesia's warm hospitality and rich diverse culture.

To provide better and more convenient services, Garuda Indonesia continuously strives through its ongoing transformation program. The progress of the transformation can be seen from the achievement of a Skytrax's 5-star Airline rating as well as the winning of the prestigious "The World's Best Cabin Crew" for four consecutive years in 2014 to 2017 and "The World's Most Loved Airline 2016", also from Skytrax. Please visit

PT Garuda Indonesia (Persero) Tbk.
VP Corporate Communications
T: +62 21 2560 1068
E: [email protected]


Feb 11, 2014 17:00 HKT/SGT
Source: Garuda Indonesia Group

Topic: Earnings
Sectors: Daily Finance, Airlines, Travel & Tourism
From the Asia Corporate News Network

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