JAKARTA, 05 August 2007 - After many years of writing its financial results in red ink, Garuda Indonesia closed the first semester of 2007 by reporting a net profit of Rp. 148 billion (11.56 million euro). In an impressive turn-around, the current profit results stand in stark contrast to the first six months of 2006 when the Airline reported losses of Rp. 361 billion (28.20 million euro).

Garuda's president director, Emirsyah Satar, attributes the airline's improved performance to increased passenger loads, higher airfares and more efficient use of the company's armada. Quoted in the Jakarta Post, Satar said: "We managed to accommodate more passengers in fewer airplanes due to an improvement in the utilization rate of each plane form an average of 8 hours and 45 minutes to 9 hours and 17 minutes a day."

Revenues increased 11.5% during the first 6 months of 2007 reaching Rp. 5.8 trillion (453.10 milion euro). The Airline currently produces revenues equivalent to 5.3 eurocent per seat per flown kilometer, an improvement in revenue yield of 7.5% over the same period last year. Garuda is projecting a 20% improvement in revenues during the second half of 2007.

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