Garuda makes Q1 loss as fuel costs jump
Garuda Indonesia swung to a Q1 net loss of US$99.1m as fuel costs rose by over 50%. Operating revenue for the carrier rose 6.2% to $909.5m, but costs jumped 21.3% to $1.02b. Fuel was the biggest contributor to the loss with an increase of 54% to $292.3m. The EBIT loss for the quarter was $109.4m, from a $15.8m profit the previous year period. The airline made a $0.8m net profit in Q1 2016. Garuda carried 8.4m passengers in the quarter to end March, an 8.4% uplift from the previous year. RPK traffic was up 15.2% on an ASK capacity increase of 10.9%. Load factor rose 2.7 percentage points to 72.5%. Passenger yield came in at 6.3 cents, a 7.6% drop. CASK rose 5.7% to 5.9 cents. Both Garuda Indonesia and its low cost unit Citilink returned positive growth during the quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-01/sky/garuda-makes-q1-loss-as-fuel-costs-jump
https://portal.staralliance.com/cms/logo.png
Garuda makes Q1 loss as fuel costs jump
Garuda Indonesia swung to a Q1 net loss of US$99.1m as fuel costs rose by over 50%. Operating revenue for the carrier rose 6.2% to $909.5m, but costs jumped 21.3% to $1.02b. Fuel was the biggest contributor to the loss with an increase of 54% to $292.3m. The EBIT loss for the quarter was $109.4m, from a $15.8m profit the previous year period. The airline made a $0.8m net profit in Q1 2016. Garuda carried 8.4m passengers in the quarter to end March, an 8.4% uplift from the previous year. RPK traffic was up 15.2% on an ASK capacity increase of 10.9%. Load factor rose 2.7 percentage points to 72.5%. Passenger yield came in at 6.3 cents, a 7.6% drop. CASK rose 5.7% to 5.9 cents. Both Garuda Indonesia and its low cost unit Citilink returned positive growth during the quarter. <br/>
