Thresa Sandra Desfika, Jakarta – Indonesia's national flag carrier, Garuda Indonesia (GIAA), has reported a reduced net loss of $76.4 million as of June 30, marking a 30.6 percent improvement from the $110 million loss recorded in the first quarter of the year.

In its latest public filing on Friday, the airline revealed a substantial 58.85 percent year-on-year increase in business revenue, reaching $1.39 billion during the first half of 2023, up from $878.69 million.

Garuda's Chief Executive Officer, Irfan Setiaputra, is optimistic about a significant surge in passenger numbers, projecting a growth of 60 percent compared to last year.

The airline anticipates a gradual recovery in the aviation sector following the Covid-19 pandemic. To capitalize on this revival, Garuda plans to expand its flight offerings on profitable routes and introduce new routes tailored especially for the Umrah pilgrimage, he said in the filing.

Indonesian Muslims embarking on the religious journey to Saudi Arabia will now have the option to depart from a wider range of cities, facilitated by Garuda's services.

In the upcoming months, Garuda expects to take delivery of three narrow-body aircraft, part of a larger order of five new aircraft scheduled for this year. Further details about this expansion were not provided by Irfan Setiaputra.

Source: https://jakartaglobe.id/business/garuda-indonesia-narrows-net-loss-to-76-millio