JAKARTA (Yosefardi) – low cost carrier (LCC) Citilink Indonesia airline, subsidiary of flag carrier PT Garuda Indonesia Tbk (GIAA) booked profit of US$862,000 in the first quarter of 2015, against loss US$14.77 million in the corresponding period of 2014.
Revenues grew by 38% to US$107.22 million from previous US$77.70 million. Operating profit was US$2.71 million and Ebitda US$5.22 million. Its assets totaled US$185.5 million. While liability amounted US$.177.3 million.
Citilink carried 2.5 million passengers during the first quarter of 2015, jumped 47% from target of 1.7 million passengers. For this year, Citilink targets its passengers to reach 11.2 million, compared to 7.8 million last year.
The airline plans to launch the initial public offering in 2016.