Garuda sees $121m profit

Garuda sees $121m profit

JAKARTA (JP): State-owned flag carrier Garuda Indonesia
expects to earn about Rp 850 billion (US$121 million) in net
profit this year, higher than 1998's result of over Rp 350
billion, the airline's president, Abdulgani, said on Tuesday.

He said the company projected gross revenues of between Rp 6.8
trillion and Rp 7 trillion this year due to a predicted increase
in passenger demand.

"The demand for seats has recovered and will continue to
increase this year. In order to meet the demand, we are going to
add one or two new routes and increase the existing schedules to
busy destinations," he said.

He added that Garuda enjoyed better business last year. After
losing money for eight years in a row, the carrier booked a net
profit of over Rp 350 billion last year, higher than the initial
target of Rp 270 billion. (cst)