United Kingdom
United States
Asia Pacific
Garuda’s year-to-date losses at USD1 billion
Garuda Indonesia Group recorded a $1 billion loss for the first nine months of the year.
It posted a $1.07 billion loss for the three quarters as revenue plunged nearly 68% to just $1.13 billion.
It marks a big reversal from last year’s $122.4 million profit.
Passenger traffic was down 65%, at just eight million passengers year-to-date, the airline said.
It said loadings were still below 50%.
The group, which includes low cost brand Citilink and other tourism and hospitality businesses such as PT Aero Wisata, is expected to post improved numbers for the fourth quarter.
This wass aided by a temporary government stimulus introduced last month, exempting passenger service charges from the price of tickets.
Air travel demand has been slowly rising since domestic travel was permitted again in the summer.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Boy falls to death on cruise ship
Turkish Airlines flight in emergency landing after pilot dies
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel