Garuda Indonesia trimmed its quarterly losses — led by a modest uptick in revenue — as it saw some degree of domestic recovery amid the coronavirus crisis. Releasing its results for the quarter ended 30 September, the Indonesian flag carrier posted an operating loss of $346m, reversing the $171m profit it reported in the same quarter last year. Quarter-on-quarter, the carrier narrowed its loss-making streak from the previous quarter’s $708m operating loss. Revenue for the period dived 84% year on year to $222m, but saw a 48.5% increase quarter on quarter, helped by an uptick in airline-related revenue. Garuda saw a 49% year-on-year drop in expenses to $602m, offset by a spike in depreciation costs. Quarter on quarter, Garuda brought expenses down by 14%. On a nine-month basis, Garuda reported an operating loss of $1.05b, reversing the $253m operating profit it attained last year. For the quarter, Garuda reported modest improvement in domestic passenger air traffic, both in number of passengers carried and in capacity offered. The airline carried 500,000 passengers for the period, a five-fold increase from the previous quarter, when traffic bottomed out. The figure was, however, 87% lower year on year. Quarter on quarter, ASKs nearly doubled, but fell about 58% year on year. Domestic passenger load factor was 28.8%, about 53 percentage points lower year on year, but a modest 10 percentage point improvement quarter on quarter. Garuda’s international passenger traffic figures remained at depressed levels, with passenger numbers below 100,000 for the quarter. This represented a 97% year-on-year decrease. International ASKs shrank 86% year on year.<br/>
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The Corruption Eradication Commission (KPK) is set to help the UK’s Serious Fraud Office (SFO) probe corruption allegedly committed by Canada-based airplane manufacturer Bombardier in a deal with Garuda Indonesia. The agency had long forged collaborations with foreign legal authorities through agent to agent or mutual legal assistance (MLA) schemes, KPK spokesman Ali Fikri said. The KPK also collaborated with law enforcement authorities of other countries regarding the Garuda Indonesia aircraft engine procurement case, including Singapore’s Corrupt Practices Investigation Bureau (CPIB). “We’ve been exchanging data and information with the SFO and we will continue the collaboration. The KPK will help the SFO in investigating the Garuda graft case,” Ali said on Saturday. The SFO confirmed in a statement on Thursday that it was investigating Bombardier over suspected bribery in connection with contracts from Garuda Indonesia. <br/>