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#GarudaIndonesia posts record loss of 2.4 billion USD over FY 2020. It took quite some time, it's over half way down 2021 already, but Indonesia's state-owned airline has finally published their numbers. Highlights? Here we go. (1/9)
#recordloss
asia.nikkei.com/Business/Trans…
#recordloss
asia.nikkei.com/Business/Trans…
Main points:
1. Sales down 68% YoY compared to the last non-corona year of 2019.
2. Liabilities exceed assets by a whopping 3.8 billion USD.
3. Negative cash-flow of 96.5 mil USD in 2020. (2/9)
1. Sales down 68% YoY compared to the last non-corona year of 2019.
2. Liabilities exceed assets by a whopping 3.8 billion USD.
3. Negative cash-flow of 96.5 mil USD in 2020. (2/9)
What else, well.. this: "[...] Garuda's auditor PwC assigned a "no opinion" on the financial results - given when an auditor cannot judge whether a company's accounts have been properly created - which would further undermine investor confidence in the carrier." (3/9)
