Garuda plan to expand

Garuda Chief Executive Officer (CEO) Emirsyah Satar said the once financially unstable carrier is ‘back in business’.

The CEO said at the Aviation Outlook Asia forum held in Singapore earlier in the month, that the Indonesian airline is ready to fund for extra aircrafts and pursue profitable destinations, MSN News reported.

According to Mr Satar the airline has had to sacrifice spending, staff and streamline the company in order to bounce back from financial problems.

“We did a complete and honest analysis of the business,” he said.

“We had to admit what went wrong, and I always believe if something goes wrong, blame it on yourselves instead of others.”

The CEO said the airline is aiming to raise $300 million to purchase six Airbus A330-200 aircraft and assist capital structure.

Mr Satar said that in 2008 he planned to increase the carrier’s fleet over four years from 54 to 116 aircrafts as well as increase the international destinations from 18 to 28 by 2014 focusing on China, Japan, South Korea, Australia and the Middle East.

He also stated that the airline will focus on rebuilding its reputation in Europe after all Indonesian airlines were banned from entering EU airspace following a series of crashes in 2007.

The airline has since had the ban removed by European regulators and made its first flight to Amsterdam in two years last year.

“If you look at the revenue contribution, (it) will be significant (because) you are only talking about one route, Amsterdam, but symbolically we are back as a safe airline,” he said.

"In the past, what we were doing was setting the strong foundation, [now] we are back in business.”
Source = e-Travel Blackboard: N.J
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