TEMPO.CO, Jakarta - National flag carrier Garuda Indonesia CEO Pahala Mansury said that the company performed better in the second quarter of this year than the previous quarter. “In terms of operational performance, it was way better compared to the first quarter,” Pahala said in the opening of today’s trading at the Indonesia Stock Exchange (IDX).
Improved performance in the second quarter this year, however, could not make up for Garuda Indonesia’s losses, according to Pahala. “[The financial performance] was not yet positive, indeed, but was better than the first quarter of 2017,” he said.
Read: Garuda Indonesia CEO: Looking at the losses made me shiver
According to Pahala, the improved financial performance was reflected in various indicators, including the increased load factor, utilization, and seat occupancy rate.
The airline’s seat occupancy rate stood at 71-72 percent. Going forward, Pahala expects Garuda’s operating result to reach targeted positive figure this year. He is confident that it would be achieved in the fourth quarter.
Meanwhile, Garuda Indonesia has no plan to expand in the second half of this year, such as by purchasing new planes. The company will be focusing on renegotiating with aircraft manufacturers and lessors.
“Renegotiation process is ongoing, we cannot disclose the points but at least it’s ongoing,”
BIANCA ADRIENNAWATI | WAWAN PRIYANTO
