GARUDA Indonesia has recorded a US$29.3 million net profit in 1H2015, climbing 114.5 per cent from a negative of US$201.3 million during the same period last year.
The Indonesian national carrier has attributed its performance growth amid the economic downturn to various cost-cutting initiatives.
The airline also succeeded in increasing its operating revenue by 4.7 per cent from US$1.76 billion compared with US$1.84 billion the previous year, while operating expenses decreased by 11.6 per cent from US$1.99 billion to US$1.76 billion.
In a press statement, Garuda also revealed that it now commands 44 per cent of domestic market share, an increase from 37 per cent last year. International market share has risen to 28 per cent from 21 per cent last year.
Garuda (including Citilink) has transported 15.9 million passengers, up 19.5 per cent from a total of 13.3 million passengers last year.
