Garuda Posts US$373mn Net Loss
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Jumat, 20 Maret 2015 13:24 WIB
TEMPO.CO, Jakarta – State airliner PT Garuda Indonesia Tbk. (IDX: GIAA) posted a net loss of US$373 million last year, a significant drop from 2013's US$10.78 million profit.
GIAA president director Arif Wibowo said in 2014 the company booked US$3.93 billion in revenues, which is a 4.6 percent year-on-year (yoy) increase from US$3.76 billion.
However, the revenue couldn’t compensate for the losses Garuda suffered. "We did post a comprehensive lost," Arif said in a press conference on Friday, March 20, as Bisnis Indonesia reported.
Last year, Garuda noted US$399.31 million operating loss, a downturn from 2013's US$62.94 million operating profit. The airline also recorded US$460.53 million of losses before tax, down from the previous year's US$13.65 million profit.
As of December 31, 2014, GIAA's assets totaled at US$3.1 billion, an annual increase from US$2.99 billion. Liabilities amounted to US$2.18 billion, up from 2013's US$1.86 billion. The company's equity was recorded at US$916.7 million, down from the previous year's US$1.12 billion.
BISNIS INDONESIA
