JAKARTA (Yosefardi) – Flag carrier Garuda Indonesia (GIAA) has signed sale and purchase contract for 35 ATR-72 600 early this week, with delivery scheduled to start next month.

The agreement was signed by Garuda CEO Emirsyah Satar, CEO of Avions de Transport Regional G.I.E Filippo Bagnato, and Nordic Aviation Capital chairman Martin Moller on Tuesday (Oct 1st) in Jakarta.

The purchase consisted of 25 firm order and 10 options, which will be used to serve short-range routes. Two aircraft will arrive in Jakarta next month, while the rest will be delivered in stages until 2017.

Garuda booked net loss of US$10.92 million in the first half ended June 30, 2012, flipped from net profit of US$1.87 million in the corresponding period of 2012.
Garuda Indonesia’s revenue actually improved 14% to US$1.7 billion, but operating expenses also surged from US$1.49 billion to US$1.7 billion, mainly due to higher cost of flight operations, ticketing, sales & promotion, passenger services, user charges & station, and general & administrative expenses.
Garuda Indonesia then posted operating profit of US$14.3 million, down slightly from US$14.4 million in the first half of 2012.
Higher finance costs and lower finance income led to US$2.6 million pre-tax loss against US$12.76 million pre-tax profit in the first half of 2012.
Garuda Indonesia had total assets and equity of US$2.79 billion and US$1.1 billion respectively as at June 30, 2013.