Garuda's losses

Garuda's losses

From Neraca

Neraca of Aug. 31, 1995, reported that Garuda suffered losses
of US$44 million (Rp 90 billion) during the period between
January and April 1995, despite the profit gained through
handling the haj transportation this year.

The losses were caused by, among other things, inefficiency in
the procurement of spare parts. It is believed that some Garuda
officials were involved in corrupt practices.

We are very concerned over the condition of our national
airline which is supposed to add to the state's coffers. In fact
Garuda, as a state-owned company, has had a lot of experience in
managing air transportation, so that it should know how to avoid
heavy losses.

In this era of heavy competitiveness, Garuda should work hard
to improve its performance.

SOELAIMAN S.

Jakarta