Garuda Indonesia, the national airline of Indonesia, has announced plans to expand its fleet in 2024. The airline expects to operate a total of 80 aircraft by the end of the year, an increase of eight aircraft from its current fleet. The new additions will include the Boeing 737-800 NG, Boeing 777-300ER, and Airbus A330-300, which are scheduled for delivery throughout the year.
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The expansion plan was announced by Garuda Indonesia's president director, Irfan Setiaputra. He stated that the addition of the extra aircraft is aimed at maximizing the airline’s occupancy rate and improving its network of both domestic and international routes. In 2023, Garuda Indonesia operated 145,500 flights, marking an increase of 38% from the previous year.
The state-owned airline reported revenue of US$2.94 billion last year, up 40% from 2022¹. This significant revenue growth was attributed to a 41% year-on-year sales increase in scheduled flights to US$2.37 billion, due to increased demand for air travel following the coronavirus pandemic. Sales also grew by 52% for passenger-only scheduled flights. Irfan also noted that sports events and concerts had helped boost Garuda’s ticket sales.
For instance, American pop star Taylor Swift’s Eras Tour in Singapore led to a 30% rise in passenger volume for flights to the city-state. As the Aidil Fitri holiday travel season approaches, Garuda Indonesia and its subsidiary Citilink have reportedly prepared an extra 570 flights across the country. The Aidil Fitri public holidays fall on April 10 and 11, but millions of Indonesians take to the skies for mudik (exodus) on either side of those dates to travel back to their hometowns for family reunions, and then return to their point of origin. Like many airlines, Garuda Indonesia took a severe hit from the global travel restrictions imposed during COVID-19, which prompted airlines to slash flights and downsize fleets. However, Garuda Indonesia managed to stabilize its finances in June 2022 when it obtained creditors’ approval to restructure 142 trillion rupiah in debts. This expansion plan is a significant step for Garuda Indonesia in its post-pandemic recovery. It not only signifies the airline's resilience but also its commitment to meeting the increasing demand for air travel.