This Cause Made Garuda Indonesia Loss US $ 213.4 Million

INDUSTRY.co.id - Jakarta -Throughout 2017, Garuda Indonesia airline recorded a total loss of performance of US $ 213.4 million.

The calculation of the loss note that includes calculating the cost of extra ordinary items consisting of tax amnesty (forgiveness tax) and a fine of US $ 145.8 as well.

Participation in the tax amnesty program is the company's commitment to resolve the delayed tax issues until 2015.

"Thus, when added to the cost of tax amnesty and court fines, the total loss (net loss) booked by Garuda Indonesia in the performance year 2017 amounted to USD 213.4 million," said Garuda Indonesia President Director Pahala N, Mansury through a press release received Industry.co.id, Monday (26/2/2018).

Meanwhile, he added throughout 2017, Garuda Indonesia Group succeeded in transporting 36.2 million passengers consisting of 24 million passengers Garuda Indonesia as mainbrand and 12.3 million passengers Citilink.

"In addition, the number increased 3.5 percent compared to the year 2016 of 35 million passengers. In 2017, Garuda Indonesia also recorded an increase in international traffic growth trend of 8.1 percent," concluded Pahala.

Garuda Indonesia through its subsidiary Citilink successfully recorded 10.8 percent passenger growth.

In order to strengthen the company's sustainable financial and operational performance, Garuda Indonesia and its subsidiaries in early 2018 launched a long-term business strategy entitled Garuda Indonesia Group (Sky Beyond 3.5) which will be a value-driven aviation group with the achievement of the target valuation group of USD 3.5 Billion in 2020.