Garuda Indonesia Losses Continue

Garuda Indonesia‘s losses continue, with the company reporting a pre-tax loss of USD 103 million for the first nine months of 2023.

The loss represents a substantial shift following the profit reported for the same period a year earlier.

A Change Of Fortunes For Garuda

Garuda Indonesia cites changes in foreign exchange rates as a key driver of the company’s poor performance.

Despite the loss recorded in the first nine months, the airline increased its operating revenue substantially.

Operating revenue rose to USD 2.23 billion, up 48%.

Ultimately, however, Garuda Indonesia’s losses hardly come as a shock after continued revenue declines throughout 2023, painting a negative picture.

Garuda Indonesia Fleet

Garuda Indonesia operates a fleet of 62 in-service aircraft across three aircraft types, per Cirium’s latest data.

Its largest fleet type by active units is the 737-800, with 40 jets in service. 10 Airbus A330-300s follow this. Alongside the A330, it utilises the 777-300ER for its widebody operation.

Garuda Indonesia currently flies eight 777-300ERs, with these jets averaging nine years, which is relatively young for the widebody.

Garuda’s 737-800 fleet, however, is among the oldest, with an average age of 11.6 years. The A330-200s closely followed this at 11.5 years.