Citilink Indonesia

Business Summary

Citilink is showing good performance in an industry where competition is rife. The number of total Indonesian air travelers has been growing sharply in recent years as the country's per capita GDP is growing fast. Citilink succeeds in tapping this market as can be seen by the increase of passenger numbers in the table below:

Citilink Indonesia's Operational Highlights:

	2011	2012	2013	2014	2015
Number of Passengers (in millions)	1.6	2.9	5.3	7.6	9.7
Number of Aircrafts (at year-end)		21	30	34	44
Number of Routes		19	28	42

^{Source: Garuda Indonesia Annual Report 2013}

In January 2013, Citilink ordered 25 Airbus A320neo airliners (valued at USD $2.4 billion) and 25 regional ATR 72-600 airliners. The company's number of airplanes is expected to grow from the current number to 50 by 2015. In case profit and growth targets are achieved, Citilink may conduct an initial public offering (IPO) on the Indonesia Stock Exchange.

Citilink Indonesia's Financial Highlights:

	2012	2013
Total Revenues	73.4	273.4
Operating Income (loss)	(31.5)	(60.2)
Income before Tax (loss)	(31.2)	(63.0)
Net Income (loss)	(28.4)	(48.5)
Total Assets	73.1	106.1

^{in million USD
Source: Garuda Indonesia Annual Report}