Garuda Indonesia‘s losses continue as the company reported 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 one year prior.
A Change Of Fortunes For Garuda
Garuda Indonesia cites the changes in the foreign exchange rates as a critical catalyst for the company’s poor performance.
Despite the highlight being the loss recorded for the first nine months, the airline increased its operating revenue substantially.
An operating revenue increase came in at USD 2.23 billion, representing a 48% increase.
Ultimately, however, the losses reported by Garuda Indonesia hardly come as a shock following continued revenue reports throughout 2023, indicating 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 most significant fleet type, when measured 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 fleet of 737-800s, however, are among the oldest in average age, sitting at 11.6 years. The A330-200s closely followed this at 11.5 years.