JAKARTA: The global oil price hike which swings above the level US$100 per barrel has caused PT Garuda Indonesia Tbk to experience net loss IDR183.6 billion in the first quarter of 2011, compared to IDR18 billion in the same period last year. The operating loss of the company was IDR258.7 billion or declined from IDR361.3 billion.Government regulation does not allow fuel surcharge which overshadowed the operational of the company, since avtur is the important component of the airlines business, contributing 28% to 30% for single trip.Finance Director of Garuda Elisa Lumbantoruan said the removal of fuel surcharge has hampered the tariff adjustment of passenger ticket.Overall, the loss of Indonesia flag carrier during the period between January and March 2011 was mainly influenced by the increase of total expense as high as 42.4% to IDR5.44 trillion from the previous of IDR3.82 trillion.The expenses included purchase of avtur with a total IDR1.95 trillion or jumped 74% compared with IDR1.12 trillion.Furthermore, the purchase of equipments for rental and carter aviation service was IDR629.6 billion or increased 57.8% from the previous of IDR399 billion. The expense of ticket sales and promotion reached IDR547.2 billion or increased 54.6% from IDR354.1 billion.Meanwhile, other expenses also increased by 19% to IDR2.31 trillion from IDR1.94 trillion.In the other side, the national airlines which acquiring flight number of GA booked 49.7% increase in revenue to IDR5.18 trillion from IDR3.46 trillion. Earning before interest, tax, depreciation and amortization (EBITDA) increased 82.3% to IDR721.8 billion, compared to IDR396.5 billion in 2010.The assets of four-star airlines version SkyTrax also increased 20% to IDR16.4 trillion from IDR13.66 trillion. Meanwhile, the liabilities of the company was down 2.64% to IDR9.92 trillion from IDR10.19%Elisa said besides the increase of avtur price, Garuda also lose revenue from the operational flight to and from Japan after tsunami disaster and nuclear crisis in the countryHe hopes in the next quarter Japan aviation market will recover from the disaster thus it will help the company performance.First quarter of 2010 is better than second quarter of 2010 in all indicators including financial and operational, with this trend we hope to be better amid the unstable fuel price, said Elisa.Commercial Director of Garuda Arif Wibowo previously said that the Japan flight route is very significant since the contribution to the company reached to 20% from the total revenue of international route.In the other hand, International Air Transport Association (IATA)said the passenger growth in global flight was slightly down 3.8% in March 2011 from the position in 2010.It is mainly driven by the disaster in Japan and political unrest in Middle East and North Afrika as well as global oil price.Load factor of global passenger was also averagely down 3.5% to 74.6% in March. Although, the cargo growth increased to 3.7% in March from last years position and increased from Februarys position which was 1.6%.Compared with Februarys position, the demand of global passengers dropped 0.3% in March, while in February 2011 it grew 5.8%. Furthermore, cargo demand rose 4.5%.The airlines passengers were down in March. Global industry missed 2% of demand influenced by earthquake and tsunami in Japan and political unrest in Middle East and North Africa, General Director and CEO IATA Giovanni Bisignani in his release sent to Bisnis, yesterday.Earthquake and tsunami in Japan has given bad impact to the demand of international airlines services as much as 1% in period of March 2011.Asia Pacific noted a 2% decline in demand of international flight, North America dropped 1% and European operator also fell 0.5%. Domestic market of Japan is the most suffer market since the international flight was down by 22%.Cargo demand in Asia Pasific, which covering 43% of global good market, grew 0.6% in March, compared the previous year. It is better than Februarys position which slumped 5.4% due the closing of several plants on Chinese New Year Eve.Compared with February, the demand in international flight service rose 8.2%. If there was no disaster in Japan, the rebound will be stronger, said Bisignani.IATA predicted that the decline in international flight will still occur in the second quarter 2011. (T03/wiw)
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