REPUBLIKA.CO.ID, JAKARTA -- The nation's flag carrier Garuda Indonesia still reported a loss of US$64.3 million in the first quarter of this year though smaller than US$101.2 million in the same period last year. Chief executive of the airline Pahala N Mansury described the performance as positive pointing to 7.9 percent rise in operating income to US$983 million in the first three months of the year.

Amid shrinking performance of global aviation industry, soaring price of aviation fuel and falling value of the national currency against the US dollar, Garuda succeeded in slashing its loss by 36.5 percent, Pahala said.

He attributed the "positive performance" of the airline to improved efficiency, growing number of passengers and increase in cargoes and contribution from its subsidiaries.

"This achievement is a good momentum to continue recording stronger performance amid less conducive condition faced by aviation industry in the January-March period of 2018," he said, adding the January-March period is a low season.

Also read: Garuda suffers $213.4 million in losses last year

With "positive" growth in the first quarter, good performance is expected to continue through this year, to reach the profit target at US$8.7 million, he said.

He said the eruption of Mount Agung in Bali still had its impact on aviation industry until February this year with travel warnings issued by a number of countries.

He said despite the setback in January and February, the number of Garuda passengers rose 5 percent to 8.8 million and cargoes increased 3.2 percent to 111,900 tons in the first quarter of 2018.

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