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  • Indonesia's Citilink returns to profit in first half

Indonesia's Citilink returns to profit in first half

Garuda Indonesia's budget unit Citilink has posted an operating profit of $42.9 million for the first six months of 2019, turning around its $19.7 million loss for the same period last year.

Revenue for the period to 30 June was up 25% to nearly $415 million. Net profit came in at $27.2 million.

The airline did not release separate figures for the April-June quarter, but based on its previous quarter's results, this implies that its operating profit came in at $19.8 million, revenue was $208 million, and net profit was $12.6 million.

During the six-month period, ASKs were cut 8.5% but passenger numbers fell 17.3% to 5.8 million, with the result that seat load factor was down 6.4 percentage points to 73.6%. The airline attributes this to the lower demand for travel during the Islamic fasting month of Ramadan which fell between May and June.

Passenger yield was up 62% to 8 cents and average fares went up 65% to $65.40. Cargo yield nearly tripled to $1.09, as volume declined 20% to 33,600 tonnes.

CASK including fuel was up 15% to 5.5 cents, while excluding fuel it was up 30% to 3.7 cents.

Cirium fleets data shows that Citilink has 42 Airbus A320s, eight A320neos and four ATR 72-600s in service.

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