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.