Garuda operates four more Boeing 737s<\/p>\n
JAKARTA (JP): National flag carrier PT Garuda Indonesia has
\nadded four more Boeing aircraft to its fleet since November, last
\nyear to meet the rising demand for both its domestic and regional
\nflights, a senior executive of the airline said here on Tuesday.<\/p>\n
Garuda commercial director Bachrul Hakim said the four
\naircraft were part of the seven Boeing 737s it leased from
\nAmerican financing companies GE Capital Aviation Services (GECAS)
\nand the International Leasing Finance Company (ILFC).<\/p>\n
He said that the four aircraft were delivered in November and
\nDecember last year and were immediately put into operation to
\nhelp with the annual exodus during the year-end holidays.<\/p>\n
During the Christmas and Idul Fitri Holidays, Garuda provided
\nan additional 29,012 seats to serve the annual exodus of people
\ngoing and coming back from their holidays.<\/p>\n
Bachrul said that the additional seats were made possible
\npartly because of the arrival of the four planes.<\/p>\n
\"The arrival of the four aircraft have greatly helped us
\n(during the exodus),\" he said after a signing ceremony marking
\nthe cooperation of Garuda and international banking institution
\nCitibank N.A.<\/p>\n
Bachrul said two other aircraft were scheduled to arrive this
\nmonth, and another one was still in the process of negotiation.<\/p>\n
The Boeing 737s were leased to serve domestic and regional
\nroutes, he said, especially to strengthen the existing network by
\nincreasing the frequency of flights.<\/p>\n
The lease of the seven Boeings was secured early in October at
\nUS$200,000 to $250,000 a month, depending on the age and the
\ncondition of the aircraft, he said, adding that the aircraft were
\nleased for a three-year term.<\/p>\n
Garuda currently operates 42 aircraft, including 19 Boeing
\n737s, seven Boeing 747s, six A-330s, five DC-10s, and five F-28s.<\/p>\n
Bachrul said that Garuda was also studying the possibility of
\nresuming its international flights to Fukuoka in Japan, Taiwan,
\nand several destinations in China, after successfully resuming
\nflights to Seoul, South Korea in October last year.<\/p>\n
\"We don't have any plans yet this year, but studies are
\nongoing about the possibility of reopening major international
\nroutes,\" he said.<\/p>\n
Garuda closed 17 international routes, including to Seoul,
\nHonolulu, Los Angeles, Taipei, Paris, Rome, Zurich, and Saigon
\nlate in 1997 due to the financial crisis.<\/p>\n
\"We are sticking to our policy that we will not operate at a
\nloss. We will open new routes only when there's an opportunity to
\nopen routes that have sufficient market and will add to Garuda's
\nrevenue,\" Bachrul said.<\/p>\n
Garuda signed an agreement with Citibank on Tuesday for a
\nstrategic alliance in its global cash management, and its
\nfrequent flyer program.<\/p>\n
Garuda director of finance Emirsyah Satar said that the
\ncompany would be able to save up to two percent on administration
\nand conversion costs by using Citibank's multicurrency account.<\/p>\n
\"Garuda has representatives in 21 cities around the world.
\nThat needs good cash management so that no office has more money
\nthan others,\" he said, \"When funds are pooled in one account the
\nmoney could be distributed easily and efficiently no matter what
\nthe location.\"<\/p>\n
Garuda had been using different accounts for each of its
\ninternational offices, creating excesses in transfer and
\nconversion administration funds, Emirsyah said. (tnt)<\/p>",
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