Garuda Indonesia Reports Increased Net Loss Amid Declining Revenue

PT Garuda Indonesia, the national airline, reported a larger net loss for the previous year due to a decline in revenue from scheduled airline services and rising costs in certain areas. Bloomberg posted on X, highlighting the financial challenges faced by the airline. The company attributed the financial downturn to weakened demand and increased operational expenses. Despite efforts to manage costs, the airline struggled to offset the decline in revenue, leading to a significant impact on its financial performance. The report underscores the ongoing difficulties in the aviation sector, exacerbated by fluctuating demand and economic pressures.