Flag carrier Garuda Indonesia (GIAA) booked net profit of US$8.1 million last year, crashed by 88% from 2015 due to a combination of factors, including the airline’s reluctance to streamlining operations and revamp the fleet management. Garuda failed to benefit from 18% fall in fuel costs due to persistent high cost of aircraft rental & charter, maintenance and overhaul, user charges and station, and finance cost.To subscribe please click here