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JAKARTA: May 17, 2017. Garuda International has reported a 19.5 percent increase in Q1 2017 cargo revenue to US$56.2 million.

Despite a 6.2 percent rise in total operating revenue to US$909.5 million from the same period last year, the airline produced a net loss of US$99.1 million for the quarter compared to a profit of US$0.8 million in 2016.

Flown cargo rose 20.2 percent to 108,400 tonnes year-on-year as the number of passengers carried increased 8.4 percent to reach 8.4 million. The airline's widebody fleet is a mix of A330-200/300s and B777-300ERs.

Garuda International Meeting with Garuda executives and members of the Indonesian National Air Carriers Association in Jakarta, TIACA secretary general Vladimir Zubkov said: "Indonesia has a vibrant and developing air cargo community and we will be working closely with the industry here to bring TIACA expertise and training to support that growth."

Zubkov joined Garuda director of Cargo Sigit Muhartono and other airfreight industry leaders this week at the inaugural Indonesia Air Cargo Summit. He said TIACA was focused on helping the industry improve with a number of initiatives around quality and e-freight.

The two-day event explored a range of topics including new growth opportunities in the region, improving processes through the use of smart data, and the future of unmanned cargo aircraft, as well as creating world class air cargo hubs and updates on the latest security legislation.

"There is a huge opportunity for Garuda to grow its cargo business and we are enhancing our company's cargo channel distributions," said Muhartono. "We look forward to collaborating both with industry members that share the same vision regarding operational excellence, particularly in terms of reliability and quality, and also, and importantly, work with TIACA to build this industry," he added.

Indonesia GDP rose 4.8 percent in 2015 to reach US$862 billion according to the World Bank. The country's airfreight sector grew 3.5 percent in 2016 compared to 1.75 percent the previous year. Credit expansion and higher oil prices are expected to help grow the country's economy 5.2 percent in 2017, up from 5.0 percent in 2016, and reach 5.3 percent by the end of 2018.

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