JAKARTA (Yosefardi) – Flag carrier PT Garuda Indonesia Tbk (GIAA) targets to book revenues of US$4.8-5 billion this year, growing by 15-20% compared to US$4.16 billion targeted for last year.
The airlines carried 24.5 million passengers during 2013, a 20% growth compared to 20.4 million in 2012. This growth in passengers number helped Garuda booked operating revenues of US$3.47 billion last year.
However Garuda might suffer loss in few years to come due to its bold expansion. The airline allocates capital expenditure (capex) of Rp4 trillion for this year. It plans to launch rights issue in first quarter of this year, targets to raise Rp2 trillion funds.
In early December 2013, GIAA has obtained syndicated loan of US$200 million with tenor of three years.