REPUBLIKA.CO.ID, JAKARTA -- The government is evaluating the financial performance of Garuda Indonesia, following a slump in its net profit recorded last year, stated State Enterprises Minister Dahlan Iskan.
"We are evaluating why the financial performance has plunged," he noted while inspecting a slaughterhouse at the Gandasari village in the Bekasi district, West Java, on Wednesday.
Dahlan had forecast that the financial performance of the national flag carrier will decline due to the rupiah's depreciation against the US dollar.
"It has come to my notice that they (Garuda) are seeking to raise fuel surcharges as a result of the US dollar's appreciation, coupled with a rise in the price of aviation turbine (avtur) fuel," he reported.
He has also given his consent to the management of Garuda Indonesia to find ways of resolving the slump in the company's financial performance.
On Monday, Garuda Indonesia announced that its net profit had sharply dropped by 89.89 percent to reach US$11.2 million in 2013, down from US$110.8 million recorded in 2012.
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