Garuda posts 73% increase in 2012 net profit

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Garuda Indonesia has reported a 72.6% increase in its 2012 net profit to $111 million, up from $64.2 million a year earlier.

Its operating revenue grew by 12.1% to $3.47 billion, while its operating income increased by 82% to $168 million, Indonesia's flag carrier says in a statement.

The carrier transported 20.4 million passengers in 2012, an increase of 20% year on year, while its capacity as measured in ASKs rose by 11%. Its passenger yield rose from 9.62 to 9.65 cents. The load factor increased marginally to 75.9%

In 2012, the airline received 22 aircraft - two Airbus A330-200s, four Boeing 737-800s, five Bombardier CRJ1000 regional jets, and 11 A320s. The latter are operated by low-cost subsidiary Citilink.

It will also receive 24 aircraft this year - three A330s, seven CRJ1000s, four Boeing 777-300ERs and 10 737-800s. Citilink, meanwhile, will receive 11 A320s and five ATR 72-600 turboprops.

Garuda says it will operate 104 aircraft by the end of 2013, while Citilink will have 35 aircraft in its fleet.

As part of its route network expansion plans, Indonesia's flag carrier intends to launch services to nine domestic and six international destinations. These include routes from Jakarta to Bengkulu, Tanjung Pandan and Tanjung Pinang, and Denpasar to Bangkok, Brisbane and Kuala Lumpur.

It will also enhance connectivity in western Indonesia by establishing a hub in Medan by mid-2013. It will deploy the CRJ1000s to domestic and regional destinations such as Pekanbaru, Batam, Palembang, Padang and Penang, the airline adds.