Profits predicted for Citilink

Dino D'Amore
By Dino D'Amore February 18, 2015 20:44

Profits predicted for Citilink

Indonesian low-cost carrier Citilink, which is owned by PT Garuda Indonesia, will make a profit this year, says chief executive Albert Burhan. He has cited lower fuel prices and a less competitive market environment as helping the airline in its turnaround plan.

Citilink reported a net loss of US$12 million in the nine months ended September on revenue of US$288 million.

Burhan said Citilink will consider launching an IPO over the next few years as it builds scale and becomes more profitable.

Dino D'Amore
By Dino D'Amore February 18, 2015 20:44