THE NATIONAL airline, PT Garuda Indonesia Tbk, is projected to start posting positive performance gradually in the second semester of 2022. This is in line with the acceleration of performance recovery that is being optimized by Garuda after it won a homologation agreement through the process of Postponing Debt Payment Obligations (PKPU) at the end of June 2022.

According to the President Director of GIAA, Irfan Setiaputra, said the projected positive performance recording is reflected in the performance of operating revenues, which in May 2022 managed to record profitability through revenue from passenger, cargo, charter routes and other supporting income.

“This achievement is a positive performance that has been successfully recorded by Garuda since the end of 2021,” he said in an official statement, Wednesday (7/12).

In general, Irfan is of the opinion that although Garuda’s operating income has not fully recovered compared to the pre-pandemic period, the company’s profitability performance is starting to gain.

According to him, this was achieved after carrying out various cost leadership implementation steps which were also aligned through restructuring of business obligations in the PKPU process which became the basis for accelerating steps to recover Garuda’s performance in the future.

“The positive performance projections in 2022 will continue to be optimized by Garuda in stages over the next 2-3 years so that it can return to the level of the period before the pandemic,” he said.

This optimism continues to be aligned with the increasing demand and trend of passenger movement. Therefore, the company is optimistic that through the momentum of achieving PKPU homologation, Garuda can consistently maintain positive performance achievements and in the future can immediately book profits.

Irfan continued, 2022 is a crucial year for Garuda’s performance recovery process in line with various strategic steps that the company continues to optimize by achieving homologation in the PKPU process as the basis for Garuda’s restructuring mission.

“With various strategic momentum that continues to be accelerated in 2022, we are optimistic that corporate performance will gradually recover in the near future through the basis of optimizing positive performance on Garuda’s line of operating income,” he concluded.

Looking at the 2021 financial statements, PT. Garuda Indonesia Tbk as a group recorded operating revenues of US$1.33 billion, a decrease of 10.43% compared to operating revenues in 2020. The operating income was supported by scheduled flight revenues of US$1.04 billion, non-scheduled flights of US$88.05 million and other revenues of US$207 million.

However, Garuda also recorded a 21.03% decrease in operating expenses to US$2.6 billion compared to the same period in 2020. Apart from the pressure on business performance, Irfan is of the view that fundamentally Garuda’s operations have succeeded in increasing a number of operating performance records, including through group cargo transportation, which recorded an increase of 20.38% compared to the same period in 2020. [ special ]