Garuda Indonesia revenue grows 13.2% despite higher fuel spending
The airline group reported a US$179.3 million net loss, narrowing 3.0%, as revenue outside its airline businesses rose 31.3%.
Garuda Indonesia Group said its revenue reached US$2.71 billion in January–September 2026, a year-on-year gain of 13.2%. Operating profit stood at US$97.2 million, but the group remained loss-making, reporting a net loss of US$179.3 million.
The group spent US$309.8 million more on fuel than a year earlier, an increase of 42.9%. It reported a 15.7% rise in total operating costs; without fuel, the increase was approximately 3.1%.
Scheduled airline services brought in US$233.2 million more revenue, up 12.6%. Revenue outside airline operations totalled US$322.8 million after rising 31.3%. The company attributed that growth partly to GMF AeroAsia's maintenance work for external customers, where revenue increased 42.4%, and travel agency services, which recorded a 76.1% rise.
The group carried 16.7 million passengers during the period, against 15.6 million a year earlier. It operated 117,868 flights, an increase of 7.9%. Its serviceable fleet numbered 106 aircraft by September 2026, split between 64 at Garuda Indonesia and 42 at Citilink. The group reported that 92.01% of flights were on time, compared with 86.15% a year earlier.
President Director and Chief Executive Officer Thomas Oentoro said fleet restoration needed to deliver better productivity, network efficiency and customer experience. He also said shareholder Danantara's continued support would be important for operational improvements and closer collaboration among the group's businesses.
