Jakarta. State-owned airline Garuda Indonesia cut its net loss by 45.2% in the first quarter of 2026, helped by rising passenger traffic, higher flight frequency, and improving operational performance as the carrier continued its post-restructuring recovery.

Garuda booked a net loss of $41.62 million in January-March 2026, down from a $75.93 million loss in the same period last year.

The improvement came as passenger traffic rose 6.76% year-on-year to 5.42 million passengers, supported by a 5.87% increase in flight frequency to 19,337 flights from 18,265 flights in the first quarter of 2025.

Consolidated operating revenue grew 5.36% to $762.35 million. Scheduled flights remained the airline’s largest revenue contributor, with revenue from the segment increasing 7.36% to $648.10 million from $603.69 million a year earlier.

President Director Glenny Kairupan said the first-quarter performance reflected early progress in the company’s ongoing operational and business transformation efforts.

“The growth in passenger traffic, increased flight capacity, and improved financial performance in the first quarter of 2026 show that the company’s transformation and business fundamental strengthening measures are beginning to deliver gradual positive progress,” Glenny said in a statement on Thursday.

Garuda also improved its on-time performance (OTP) to 91.01% during the quarter, up from 87.93% in the same period last year.

As of the end of March 2026, the airline operated 102 serviceable aircraft as part of its ongoing return-to-service (RTS) program aimed at gradually expanding flight capacity.

During the quarter, Garuda carried 2.47 million passengers, while its low-cost subsidiary Citilink transported 2.94 million passengers.

Glenny said the airline remained focused on strengthening its business fundamentals through operational excellence, cost discipline, service reliability improvements, route network optimization, and continued service and operational digitalization.

“The transformation currently underway is a comprehensive rebuilding process to ensure the Garuda Indonesia Group can grow on healthier, more agile, and sustainable business foundations in the long term,” he added.

Separately, Garuda shareholders approved changes to the company’s management during its annual general meeting on Wednesday.

Former commissioner Frans Dicky Tamara was appointed Director of Human Capital & Corporate Service, replacing Eksitarino Irianto. Shareholders also named Sugito Anjasmoro as commissioner, replacing Frans.

The company’s current board composition is as follows:

Board of Commissioners

• President Commissioner and Independent Commissioner: Fadjar Prasetyo
• Independent Commissioner: Mawardi Yahya
• Commissioner: Chairal Tanjung
• Commissioner: Sugito Anjasmoro

Board of Directors

• President Director: Glenny Kairupan
• Vice President Director: Thomas Sugiarto Oentoro
• Finance and Risk Management Director: Balagopal Kunduvara
• Operations Director: Dani Haikal Iriawan
• Technical Director: Mukhtaris
• Commercial Director: Reza Aulia Hakim
• Human Capital & Corporate Service Director: Frans Dicky Tamara
• Transformation Director: Neil Raymond Mills

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