Garuda Indonesia's Losses Swell to Rp 5.42 Trillion in 2025

PT Garuda Indonesia Tbk (GIAA) incurred a loss of US$319.39 million throughout 2025. Assuming an exchange rate of Rp17,000, this loss amounts to approximately Rp5.42 trillion. The loss figure has ballooned compared to the same period in the previous year, which was US$69.77 million or about Rp1.18 trillion.

According to the company’s financial report submitted to the Indonesia Stock Exchange (BEI), Garuda Indonesia’s expanded losses occurred alongside a decline in revenue. Throughout 2025, Garuda Indonesia recorded operating revenue of US$3.21 billion or approximately Rp54.57 trillion, down from US$3.41 billion or about Rp57.96 trillion in 2024.

Garuda Indonesia’s operating revenue was supported by scheduled flights amounting to US$2.14 billion or approximately Rp36.68 trillion throughout 2025. Unscheduled flights contributed US$340.87 million or about Rp5.79 trillion. Meanwhile, other revenue was recorded at US$361.05 million or approximately Rp6.13 trillion.

For total operating expenses, Garuda Indonesia recorded US$3.10 billion or approximately Rp52.69 trillion throughout 2025. The majority of operating expenses were contributed by flight operational costs, recorded at US$1.54 billion or about Rp26.18 trillion.

Additionally, maintenance and repair expenses contributed US$661.36 million or approximately Rp11.24 trillion. Airport and passenger service expenses also contributed to the total operating expenses, at US$249.14 million and US$216.35 million respectively, throughout 2025.

As of the end of 2025, Garuda Indonesia recorded total assets of US$7.43 billion or approximately Rp126.33 trillion. Meanwhile, total liabilities stood at US$7.33 billion or about Rp124.61 trillion, with total equity at US$91.91 million or approximately Rp1.56 trillion as of the end of December 2025.