Garuda Indonesia recorded an outstanding performance in 2012, doubling its consolidated income from $72.7 million in 2011 to $145.4 million in 2012 and boosting the number of its passengers by 20 per cent. The significant improvement in the company’s financial performance is being attributed to the expansion of the airline’s operations in accordance with its 2011–2015 Quantum Leap Program. It has been adopted to transform Garuda Indonesia into a world-class airline by 2015. To this end, Garuda Indonesia expanded its fleet by 22 new aircraft in 2012, which comprised two Airbus A330-200; four Boeing 737-800 NextGen; five Bombardier CRJ-1000 NextGen; and 11 Airbus A320 for Citilink. As a result, the airline’s current operational aircraft fleet size stands at 106; the average age is 5.8 years.
Moreover, Garuda Indonesia’s ongoing commitment towards business transformation and improvements earned the company several accolades in 2012, including:
- The Best International Airline award from Roy Morgan;
- The World’s Best Regional Airline and the Best Regional Airline in Asia awards from SkyTrax; and
- The ASEAN Premium Airline of the Year award from Frost & Sullivan.
To top it off, Fitch Ratings recently issued the national long-term “A” rating with a stable outlook to the airline. This upgrade highlights the airline’s good corporate performance. Fitch’s rating also reflects Garuda’s dominance of Indonesia’s full-service carrier industry: the company’s market share in the country’s aviation sector was about 28 per cent at end-2012.
