Garuda Indonesia Group in 2016 posted a net profit of close to US$9.4 million and consolidated revenue of US$3.9 billion, as Garuda Indonesia and Citilink Indonesia carried a total of 35 million passengers with a load factor of 73.1 per cent and 76.8 per cent respectively.
"The trend in growth for the world aviation industry, especially for the Asia-Pacific region, has been under pressure for the last five years, especially as a result of the global economic slowdown that has affected purchasing power, but the group can still maintain its positive performance," stated president director of Garuda Indonesia, Arif Wibowo.
"Twenty-sixteen was a year of investment for the company, considering that we maximised utilisation of wide-body aircraft for the expansion of international routes in the middle to longhaul sectors. We expect the next fleet restructuring will happen in 2019," he added.
The group brought in 17 new aircraft in 2016: four ATR 72-600 aircraft, four A330-300s, one B777-300ER aircraft and eight A330-200. By the end of 2016, it was operating 196 aircraft with an average aircraft age of 4.6 years.
Garuda Indonesia also began serving destinations like Medina and Mumbai, and domestic ones such as Sintang, Silangit, Nabire and Maumere, bringing its network to 19 international destinations and 64 domestic destinations.
Meanwhile, the group recorded an increase in scores of other income comprising ancillary revenue components, income sector strategic business unit and other subsidiaries, amounting to US$392 million, an increase of 13.7 per cent from US$344.6 million in 2015.
In terms of on-time performance, Garuda reached 89.5 per cent, up from 88 per cent the previous year, despite operational challenges that came with domestic service migration to the new Terminal 3 at Soekarno-Hatta, weather factors, or force majeure.
Garuda Indonesia at this time recorded a market share of 41.7 per cent in the domestic market and 26.9 per cent in international markets.