JAKARTA (Yosefardi) – Flag carrier PT Garuda Indonesia Tbk (GIAA) targets its revenue to grow by 24% to US$6.05 billion this year, equivalent Rp84.09 trillion along with the oil price drop to below US$30 per barrel.
As at third quarter of 2015, GIAA’s fuel cost dropped 31.4% to US$806.5 million as avtur price fell 37.9%.
For anticipating the rupiah fluctuation, GIAA boosts its hedging to US$200 per month, compared to US$100-120 million last year.
GIAA allocates capital expenditure (capex) of US$160 million or Rp2.22 trillion for this year, a 23% rise compared to last year’s capex of US$130 million, used to fund the purchase of new aircrafts and to pay debts.