JAKARTA, RAKYAT NEWS – Garuda Indonesia has achieved a significant milestone by securing the 25th spot on the Fortune Indonesia 100 list of the largest companies for 2023, climbing eight places from the previous year.

 

“This year, Garuda Indonesia has moved up to 25th place, an impressive leap from 33rd last year,” confirmed Garuda Indonesia’s CEO, Irfan Setiaputra, in Jakarta on Sunday.

This advancement marks a notable achievement for Garuda, particularly in the transportation sector, where the company has seen the highest ranking improvement. Irfan attributed this success to the airline’s ongoing efforts to enhance performance, which is reflected in a 40 percent increase in revenue and an operating profit of $251 million.

“This progress is a result of the strong determination and hard work of everyone at Garuda Indonesia, fulfilling our role as the national flag carrier,” Irfan added. He emphasized that the ranking underscores Garuda’s commitment to providing safe and comfortable flights while maintaining a healthy and profitable business.

The recognition from Fortune Indonesia also highlights the airline’s recovery and performance boost following the COVID-19 pandemic. Irfan noted that this achievement signals the beginning of a new phase in the company’s post-pandemic restructuring, which will support further corporate initiatives aimed at improving overall performance.

The Fortune Indonesia 100 ranking is based on the performance metrics of companies for the fiscal year 2023, calculated using standards similar to the Fortune Global 500. This includes audited financial reports up to June 30, 2024.

Irfan emphasized that the improved ranking reflects various company initiatives, including enhanced service development, operational efficiency, strategic collaborations, and specialized market segments such as cargo, Umrah flights, and charter services.