Garuda Indonesia reports 88% net profit drop for 2016

Credit: Rob Finlayson
Garuda Indonesia’s full-year 2016 net profit dropped 88% to $9.4 million, compared to $78 million in 2015. Operating revenue for the year was up 1.3%, although the capacity gain of 13.3% outstripped the traffic increase of 8.3%. Load factor fell 3.4 points to 73.8%. Passenger yield dropped 7.1% in...

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