Garuda Indonesia Profitable in 2019; Current Outlook Uncertain
Credit: Rob Finlayson
After two consecutive lossmaking years, Garuda Indonesia achieved a profit of $6.5 million for 2019, reversing its $229 million loss a year prior; the airline did not provide an outlook for 2020. Revenue improved 5.6% year-on-year (YOY) to $4.8 billion and total equity grew 12.63% to $721 million...
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