PT Garuda Indonesia (Persero) Tbk (GIAA) announced a 13.2% year-on-year increase in revenue to US$2.71 billion for the first nine months of 2026, according to a press release issued via NEWMEDIAWIRE. The growth was supported by stronger contributions from core airline operations and a 31.3% rise in non-airline business revenue, reflecting the Group's expanding revenue base and continued transformation progress despite persistent pressure from elevated jet fuel prices.
Revenue from scheduled airline services increased 12.6% year-on-year, adding US$233.2 million, while non-scheduled services grew 2.1%, contributing an additional US$6.3 million. Non-airline businesses recorded a US$77.0 million revenue increase, accounting for approximately 24.3% of the Group's total revenue growth during the period. The performance was achieved amid industry-wide cost pressures, particularly from higher jet fuel prices driven by geopolitical tensions in the Middle East and volatility in global energy markets. The Group's fuel expenditure rose 42.9% year-on-year, equivalent to US$309.8 million, contributing to a 15.7% increase in overall operating costs. Excluding fuel, operating expenses increased by approximately 3.1%, significantly below revenue growth, reflecting progress in cost management and operating efficiency.
Garuda Indonesia Group recorded an operating profit of US$97.2 million, while its net loss narrowed by 3.0% to US$179.3 million. The results demonstrate continued revenue momentum and improving cost discipline as the Group advances its financial recovery.
Non-airline businesses strengthened group-wide growth, with revenue rising 31.3% year-on-year to US$322.8 million. Growth was supported by a 42.4% increase in aircraft maintenance revenue from external customers at GMF AeroAsia, alongside a 76.1% rise in travel agency services revenue. These developments highlight the growing commercial potential of the Group's broader business ecosystem.
Garuda Indonesia President Director and Chief Executive Officer Thomas Oentoro said the performance reinforces the importance of developing stronger contributions from across the Group's businesses. "Strengthening our core airline operations remains essential, but our future growth must also come from making better use of the capabilities and opportunities across the Group," Thomas said. He added that continued support from Danantara, as the Group's shareholder, would play an important role in advancing operational improvements and strengthening collaboration across its businesses.
Operational improvements also contributed to stronger traffic performance, with Garuda Indonesia Group carrying 16.7 million passengers, compared with 15.6 million in the corresponding period last year. Combined flight frequencies increased 7.9% year-on-year to 117,868 services. The growth was supported by fleet reactivation initiatives, with the Group's serviceable fleet reaching 106 aircraft as of September 2026, up 24 from 82 a year earlier. On-time performance (OTP) reached 92.01%, an improvement of 5.86 percentage points from 86.15% a year earlier.
Thomas emphasized that fleet recovery must translate into sustained improvements in productivity, network efficiency and customer experience. "Restoring fleet availability is an important part of our transformation, but adding capacity alone is not enough," he said. Looking ahead, Garuda Indonesia Group will continue to accelerate its transformation priorities, focusing on fleet productivity, disciplined network optimization, stronger contributions across its business portfolio and sustained cost management. The original release is available at www.newmediawire.com.
