Garuda Indonesia posted an operating profit of $147 million for 2019, a turnaround from the $199 million operating loss in 2018.
Revenue grew 5.6% to $4.57 billion, driven by a 6.9% increase in passenger revenue.
Total costs declined by 4% to $4.4 billion, as the group carrier tightened its belt. Costs relating to flight operations, aircraft maintenance and passenger services were all cut. There was, however, a 16% rise in expenses relating to ticketing, sales and promotional activities.
The airline was also profitable at a net level in 2019, to the tune of $7 million. That reversed a $232 million net loss in 2018.
Garuda has not yet released an investor presentation detailing its performance for the year.
