Garuda to work fleet harder, hedge oil to help return to profit: CE
Garuda Indonesia plans to work its fleet harder, increase oil hedging and add more international flights to help return to profit this year, the airline's CE said Thursday. The carrier last month said it was targeting a small net profit of US$8.9m this year after posting a $222m loss in the first 9 months of 2017. Garuda is due to release its full-year 2017 results later this month. Garuda CE Pahala Mansury said domestic ticket prices were improving as rival Lion Air slowed its rate of capacity growth, but higher fuel prices and airport charges meant a strong focus on costs would be needed to break even. Garuda plans to increase domestic capacity by 12% to 15% and international capacity by more than 25% this year despite having deferred deliveries of new Boeing and Airbus jets. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-02-09/sky/garuda-to-work-fleet-harder-hedge-oil-to-help-return-to-profit-ce
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Garuda to work fleet harder, hedge oil to help return to profit: CE
Garuda Indonesia plans to work its fleet harder, increase oil hedging and add more international flights to help return to profit this year, the airline's CE said Thursday. The carrier last month said it was targeting a small net profit of US$8.9m this year after posting a $222m loss in the first 9 months of 2017. Garuda is due to release its full-year 2017 results later this month. Garuda CE Pahala Mansury said domestic ticket prices were improving as rival Lion Air slowed its rate of capacity growth, but higher fuel prices and airport charges meant a strong focus on costs would be needed to break even. Garuda plans to increase domestic capacity by 12% to 15% and international capacity by more than 25% this year despite having deferred deliveries of new Boeing and Airbus jets. <br/>
