1. GARUDA INDONESIA
2Q-2011 QUARTERLY REPORT
MACQUARIE ASEAN CONFERENCE
Singapore 24-25 August 2011
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2. Agenda
Section 1  Highlights of 2Q-2011
Section 2  Business Results in 2Q-2011
Section 3  Quantum Leap Performance in 2Q-2011
Section 4  Latest Update
Section 5  Outlook for 2011
1

3. 1. Highlights of 2Q-2011
2

4. Highlights of 2Q-2011
Passenger (000) ASK (000)
AAPA (Jan-Jun 2010/11) :
44,004 3.1% 45,386 6.8%
230,966 •AAPA International Traffic
216,892 2Q
2Q grew by 3.1%
1Q
1Q
44,786 46,164
215,721 231,019 •ASK grew by 6.8% while RPK
grew by 3.7%, resulting in
Jan-Jun 2010 Jan-Jun 2011 Jan-Jun 2010 Jan-Jun 2011 2.3point decrease in average
RPK (000) FTK (mn) SLF to 75.8%
166,287 173,607 16,488
•Air cargo demand was
15,323
3.7%
3.2% relatively soft, declining by
2Q
2Q 3.2% compared to last year.
176,769 1Q 1Q
171,612 14,767 14,928
Jan-Jun 2010 Jan-Jun 2011 Jan-Jun 2010 Jan-Jun 2011
Source: Association of Asia Pacific Airlines, Press Release Jan-Jun 2011
3

5. Highlights of 2Q-2011
In some airport, international market has been growing quite significantly
Traffic Passengers
Jan-May 2010 Jan-May 2011 ∆%
Cengkareng:
DOM 12,563,448 14,264,960 13.5
INTL 3,585,981 4,266,673 19.0
TOTAL 16,149,429 18,531,633 14.8
Kuala Lumpur 9,240,942 10,641,206 15.2
Bangkok 13,703,126 15,719,969 14.7
Singapore 16,614,377 18,390,938 10.7
Dubai 18,870,253 20,480,000 8.5
Hong Kong 20,229,000 21,398,000 5.4
Seoul 13,197,051 13,588,993 3.0
Tokyo (Narita) 13,267,847 10,105,994 -23.8
Note: All numbers, except for CGK, are quoted from The Straits Times of Singapore of July 18 th
2011 edition and represent international passengers
CGK data is sourced from PAP II
4

6. Highlights of 2Q-2011
Indonesia Macro Economy
•Continued Strong Macro Development in Indonesia: Traffic has been growing
•MP3EI – 6 Indonesian Economic Corridor
•IDR was stronger against USD
6,5 2010 2011* 2012**
6,3 6,1
6,0
5,7 5,5 •GDP (%,YoY) 6,1 6,5 6,5-6,9
4,5 •Consumption: 4,0 5,0 5,4-5,8
•Public 4,6 4,9 4,8-5,2
•Government 0,3 5,1 6,0-6,4
GDP growth •Investment 8,5 9,5 10,0-10,4
2005-2011 (%)
•Export 14,9 14,1 14,9-15,3
2005 2006 2007 2008 2009 2010 2011 •Import 17,3 17,3 18,0-18,4
*) Estimate
Source: Bisnis Indonesia 26 July 2011 & 15 Aug 2011 **) Forecast by MoF
5

7. Highlights of 2Q-2011
Indonesia Air Traffic (Jan-Jun 2010/11)
•Domestic traffic grew by 16%
•International traffic grew by 14%
Domestic Traffic International Traffic
50% 50%
40% 40%
30%
30%
20%
20%
10%
10%
0%
0% 1Q-2010 2Q-2010 3Q-2010 4Q-2010 1Q-2011 2Q-2011
-10%
1Q-2010 2Q-2010 3Q-2010 4Q-2010 1Q-2011 2Q-2011
-10% -20%
-20% -30%
DOM QoQ GA QoQ DOM YoY GA YoY INTL QoQ GA QoQ INTL YoY GA YoY
Sources: Angkasa Pura 1/II
6

8. Highlights of 2Q-2011
Indonesia Air Traffic Market & Market Share (Jan-Jun 2010/11)
32% 12,000,000 20.0
29% 16%
26% 25% 26%
25% 26% 26% 22% 24%
28% 10,000,000 17.2
24%
24% 8,000,000
20% 6,000,000 9% 14.5
13.3
16% 4,000,000
12% 2,000,000
3.9 42% 5.5
8% -
1Q-09 2Q-09 3Q-09 4Q-09 1Q-10 2Q-10 3Q-10 4Q-10 1Q-11 2Q-11
1H-2010 1H-2011
DOM total GA total GA share GA Other Domestic
28% 4,000,000
6.5
24%
14%
24% 21% 3,500,000
24%
23% 20% 22% 22% 5.6
24% 22% 18% 3,000,000
20% 2,500,000
9% 5.5
2,000,000
4.5
16% 1,500,000
1,000,000
12%
500,000
1.1 37% 1.5
8% -
1Q-09 2Q-09 3Q-09 4Q-09 1Q-10 2Q-10 3Q-10 4Q-10 1Q-11 2Q-11 1H-2010 1H-2011
GA Other International
INTL total GA total GA share
7

9. Highlights of 2Q-2011
GA Summary Result :
• Growth on track: capacity has been going up by 6% & demand up by 9% (Q by Q)
• Passenger carried grew up to 42% for the 1H (YoY)
• Seat load factor has been going up while passenger yield keeps improving
• OTP was strong at 89,2%, while aircraft utilisation has been improving
• Positive operating cashflow of IDR 504.6 bn, strong cash balance of IDR 4,217 bn and strong
EBITDAR of IDR 878.1 bn
9.000.000
ASK 80 9,6
8.000.000
RPK 9,4
7.000.000 75 9,2
6.000.000 9,0
5.000.000 70 8,8
8,6
4.000.000
65 8,4
3.000.000
8,2
2.000.000 60 8,0
1.000.000 7,8
- 55 7,6
1Q-10 2Q-10 3Q-10 4Q-10 1Q-11 2Q-11 1Q-10 2Q-10 3Q-10 4Q-10 1Q-11 2Q-11
2010 2011 pax Yield SLF
8

10. 2. Business Results in 2Q-2011
9

11. Financial & Operating Indicators
2Q-2010 1Q-2011 2Q-2011 ∆ % YoY ∆ % QoQ
Operational:
Aircraft Utilization (Hours) 9:41 10:04 11:00 1:19 0:56
Frequencies 26,333 28,952 32,424 23.1 12.0
On Time Performance 78.2% 88.8% 89.2% 14.1 0.5
ASK (’000) 6,579,802 7,352,122 8,257,486 25.5 12.3
Average Fuel Price (US¢/L) 66.04 83.20 95.19 44.1 14.4
Passenger & Cargo:
Passenger Carried 3,024,725 3,676,596 4,190,594 38.5 14.0
RPK (‘000) 4,502,732 5,270,523 6,198,606 37.7 17.6
Seat Load Factor 68.4% 71.7% 75.1% 9.8 4.7
Passenger Yield (US¢) 8.25 8.60 9.40 13.9 9.3
Cargo/Mail Uplifted (Tonnage) 50,768 56,127 56,705 11.7 1.0%
Cargo Load Factor 38 34.1 30,0 -21.1 -13.2
Cargo Yield (US¢) 29.78 34.16 37.4 25.6 9.5
Financial:
CASK (US¢) 6.60 7.64 8,13 21.2 4.7
CASK (excl fuel) (US¢) 4.24 4.66 4.68 10.4 0.4
10 Notes: All figures are for GA & Citilink, except aircraft Utilization and OTP are for GA Main Brand only,

12. Financial & Operating Indicators
1H-2010 1H-2011 ∆ % YoY
Operational:
Aircraft Utilization (Hours) 9:14 10:33 1:19
Frequencies 49,460 61,286 23.9
On Time Performance 83 89 7.23
ASK (’000) 11,828,581 15,607,212 31.9
Average Fuel Price (US¢/L) 64.24 89.61 39.5
Passenger & Cargo:
Passenger Carried 5,527,488 7,858,142 42.2
RPK (‘000) 8,023,859 11,469,129 42.9
Seat Load Factor 67.8 73.5 8.4
Passenger Yield (US¢) 8.32 9.03 8.5
Cargo/Mail Uplifted (Tonnage) 96,561 112,832 16.9
Cargo Load Factor 39 32 -17.7
Cargo Yield (US¢) 30.85 35.78 16.0
Financial:
Notes: All figures include GA &
CASK (US¢) 6.76 7.95 17.6 Citilink, except aircraft Utilization
and OTP are for GA Main Brand
CASK (excl fuel) (US¢) 4.39 4.58 4.3 only,
11

13. Financial Summary – Group Company
2Q-2010 1Q-2011 2Q-2011 ∆% ∆%
(IDR Billion)
YoY QoQ
EBITDAR 665.8 721.8 878.1 31.9 21.7
Total Revenue 4,289.2 5,189.3 6,025.7 40.5 16.1
Total Expenses 4,391.4 5,448.0 6,107.7 39.1 12.1
Fuel 1,464.6 1,959.0 2,435.7 66.3 24.3
Rental & Charter Flight Equip Exp 413.0 629.6 677.8 64.1 7.7
Ticketing, Sales, Promotion 450.4 547.2 521.5 15.8 -4.7
Others 2,063.4 2,312.2 2,472.7 19.8 6.9
Ops Income (102.2) (258.7) (82.1) 19.7 68.3
Comprehensive Income 42.6 (183.6) (1.4) -103.3 -99.2
Total Assets 13,977.7 16,399.9 17,444.8 24.8 6.4
Total Liabilities 10,700.6 9,927.0 10,870.9 1.6 9.5
Equity 3,277.1 6.472.9 6,573.8 100.6 1,6
Note: Exchange rate as of June 30, 2011 was at 8,537 IDR / USD.
12

14. Financial Summary – Group Company
(IDR Billion) 1H-2010 1H-2011 ∆ % YoY
EBITDAR 1,062.20 1,599.9 50.6
Total Revenue 7,756.7 11,215.0 44.6
Total Expenses 8,220.2 11,555.8 40.6
Fuel 2,593.0 4,394.7 69.5
Rental & Charter Flight Equip Exp 812.0 1,307.4 61.0
Ticketing, Sales, Promotion 804.4 1,068.7 32.9
Others 4,010.8 4,785.0 19.3
Ops Income (463.5) (340.8) 26.5
Comprehensive Income 60.6 (185.0) NA
Total Assets 13,977.7 17,444.8 24.8
Total Liabilities 10,700.6 10,870.9 1.6
Equity 3,277.1 6,573.8 100.6
Note: Exchange rate as of June 30, 2011 was at 8,537 IDR / USD.
13

15. Financials Summary – Group Company
(IDR Billion)
1Q-2011 2Q-2011 1H-2011 ∆%
QoQ
Cash/Cash Equivalents at Beginning of The Year 1,177 3,969 1,177 -
•Operating Activities 107 398 505 272.0
•Investing Activities (301) (552) (853) 83.4
•Financing Activities 2,895 397 3,292 -86.3
•Net Increase (Decrease) in Cash/Cash Equivalents 2,700 243 2,944 -
Effect of Foreign Exchange Rate Changes 91 5 96 -
Cash/Cash Equivalents at End of The Year 3,969 4,217 4,217 65.3
14 Note: Exchange rate as of June 30, 2011 was at 8,537 IDR / USD.

16. Summary of Subsidiaries Performance
PT Aero Wisata Financial as of 30 June 2011 PT Aero System Financial as of 30 June 2011
1H-2010 1H-2011 ∆% 1H-2010 1H-2011 ∆%
Revenue 724,837 888,139 22.5 Revenue 47,229 55,119 16.7
Operating Income 26,752 41,128 53.7 Operating Income 2.496,0 1.365,4 -45.3
Net Income 31,404 35,236 12.2 Net Income 4.082,4 (6.318,6) -254,8
EBITDA 51,161 76,150 48.8 EBITDA 8.706,2 5.531,9 -36,5
Assets 1,586,974 1,677,919 5.7 Assets 192.598,4 189.446,0 -1.6
Liabilities 603,890 605,771 0.3 Liabilities 91.260,6 93.754,4 2.7
Equity 983,084 1,072,148 9.1 Equity 101.337,8 95.711,5 -5,6
PT GMF-AA Financial as of 30 June 2011 PT Abacus Indonesia Financial as of 30 June 2011
1H-2010 1H-2011 ∆% 1HQ-2010 1H-2011 ∆%
Revenue 634,669 735,112 15.8 Revenue 12,833 14,072 9.7
Operating Income (10.170,3) 56.850,6 NA Operating Income (292) 18,6 106,4
Net Income (1.095,8) 21.245,7 NA Net Income (209,3) 433,8 307,3
EBITDA (5.029,4) 65.352,7 NA EBITDA 1.312,8 1.415,4 7,8
Assets 1.288,332 1.4127,058 9.9 Assets 53.376,7 49.139,5 -7,9
Liabilities 832,737 919,039 9.0 Liabilities 8.524,6 6.969,3 -2.8
Equity 455.594,2 508.019,9 11.5 Equity 44.852,1 42.170,1 -10.0
15 Notes: All figures are in IDR million

17. 3. Quantum Leap Performance in 2Q-2011
16

18. Quantum Leap – 7 Strategies to Drive Growth
Management focuses on implementing the “Quantum Leap” with 7 main strategies
to expand and dominate the Indonesian aviation market.
1 2
Domestic International
Grow and dominate Enormous upside
full-service potential
7 3
Human Capital LCC
Right quality and Citilink to address the
right quantity LCC Opportunity
6 4
Cost Discipline
Fleet
Efficient in cost 5
structure compared to Expand, simplify and
Brand
peers rejuvenate Fleet
Stronger brand, better
product and services
17

19. 1 Domestic Routes
Domestic as of 30 June 2011 Domestic Indicators as of 30 June 2010/2011
Banda Aceh ∆% ∆%
2Q-2010 1Q-2011 2Q-2011
YoY QoQ
Medan
Manado Flight
Pekanbaru 19,224 23,353 24,049 25 3
Batam
Pontianak
Ternate
frequency
Padang Gorontalo Biak
Palu
Jambi Palangkaraya
Balikpapan
Pgk.Pinang
Palembang
Jayapura
ASK (‘000) 2,459,546 2,995,995 3,347,457 36 12
Banjarmasin Ambon
Kendari Timika
Tjg.Kara Ujung Pandang
Passenger
ng
Jakarta
2,089,859 2,598,224 3,014,777 44 16
Semarang Surabaya
Solo Carried
Denpasar
Mataram
Yogyakarta
Malang
Kupang RPK (‘000) 1,766,743 2,203,034 2,609,359 48 18
• During 2Q-2011: Seat Load
71.8% 73.5% 78.0% 9 6
• New routes : Factor
• BPN - JOG
Passenger
• BPN – SUB 10.83 10.44 11.87 10 14
Yield (US¢)
• SUB – AMQ
• UPG – BPN Cargo Load
41.1% 41.5% 36.0% -13 -13
Factor
• UPG - TTE
• Additional frequency : Cargo
46,14 54.25 52.41 14 -3
• UPG - SUB Yield (US¢)
• Growing corporate travel and expanding Indonesian middle CASK (US¢) 8.10 8.75 9.28 15 6
class will drive premium traffic growth in the future
CASK excl
5.39 5.61 5.66 5 1
fuel (US¢)
18

20. 2 International Routes
International Indicators as of 30 June 2010/2011
International as of 30 June 2011
2Q-2010 1Q-2011 2Q-2011 ∆% ∆%
Amsterdam
YoY QoQ
Flight
Beijing
Nagoya
Seoul
Shanghai
Tokyo
4,518 4,737 5,182 15 9
Guangzhou
Osaka
frequency
Dubai
Jeddah Hong Kong
Bangkok
ASK (‘000) 3,770,614 3,925,747 4,517,404 20 15
Kuala Lumpur
singapore
Passenger
656,262 706,886 807,527 23 14
Makassar
Jakarta
Denpasar Carried
RPK (‘000) 2,490,914 2,750,339 3,290,423 32 20
Perth
Sydney
Melbourne
Seat Load
• During 2Q-2011: 66.1% 70.1% 72.8% 10 4
Factor
• New routes :
• UPG-SIN Passenger
6.85 7.54 7.75 13 3
• Additional frequency : Yield (US¢)
• JKT-HKG Cargo Load
37.6% 32.0% 27.6% -26 -14
• JKT-BKK Factor
• JKT-KUL
Cargo Yield
• 23.65 25.86 30.79 30 19
Growing brand awareness and recognition from passengers for (US¢)
better service quality, and readiness to join Skyteam, will
CASK (US¢) 5.76 6.77 7.22 25 7
expand GA international route network
CASK excl
3.50 3.94 3.95 13 0
fuel (US¢)
19

21. 3 Citilink
Citilink Indicators as of 30 June 2010/2011
Citilink Domestic Destinations 2Q-2010 1Q-2011 2Q-2011 ∆% ∆%
YoY QoQ
Medan # of
5 8 6 20 -25
Batam
aircraft
Flight
2,591 3,169 3,193 23 1
Balikpapan frequency
Banjarmasin
ASK (‘000) 349,641 430,533 392,607 12 -9
Makassar
Jakarta
Passenger
278,604 371,943 368,290 32 -1
Surabaya
Denpasar
Carried
RPK (‘000) 245,074 317,237 300,552 23 -5
Seat Load
70.1 73.7 76.6 9 4
Factor
 Signing contract purchase of 25+25 A320. Passenger
3.91 4.90 6.06 55 24
 Spinn-off in 2012 Yield (US¢)
 Appoint Mr Con Korfiatis (former CEO Jetstar) CASK (US¢) 5.07 6.45 6.15 21 -5
 Citilink strategy to focus on improved seat density, aircraft CASK excl
2.62 3.30 2.66 2 -19
utilization, frequencies/load factors and lower distribution costs fuel (US¢)
20

22. 4 Fleet Development
1H-10 1Q-11 1H-11 Ops Fin
Owned # of Aircraft
Lease Lease
Narrow Body 58 63 65 53 12 Fleet at 30 June 2010 76
IN: Delivery of: +21
• B737-300 7 7 6 3 - 3
 B737-800 19
• B737-400 19 8 8 4 - 4
 A330-200 2
• B737-500 5 5 5 - - 5
OUT: Redelivery of: -11
• B737-800 NG 27 43 46 46 - -
 B737-400 11
Wide Body 13 14 15 7 6 2
Fleet at 30 June 2011 86
• B747-400 3 3 3 1 - 2
Planned 2011: # of Aircraft
• A330-200 4 5 6 6 - -
Fleet at 30 June 2011 86
• A330-300 6 6 6 - 6 -
IN: Delivery of: +8
Citilink 5 8 6 3 - 3
 B737-800 3
• B737-300 4 4 5 2 - 3
 A320-200 4
• B737-400 1 4 1 1 - -  A330-200 1
•A320-200 - - - - - - OUT: Re-delivery of -3
TOTAL FLEET 76 85 86 63 6 17  B737-400 3
Average Fleet at 31 December 2011 91
9,96 7,92 7.83
Age (yrs)
21

23. 5 Brand : Garuda Indonesia experience
Average Fleet Age as of 30 June 2011
Decreasing Average Age
Cathay Pacific
11.8 years
12.0 Malaysia Airlines
(Average age) 11,1 11.0 years
10,4
Garuda
Indonesia 8,2
7.83 years 7,83
Singapore
Airlines
6 years
2007 2008 2009 2010 2011 2012 2013 2014 2015
Source: Airfleets.net and Company.
Technologically Enhanced Customer Service Indonesian Hospitality
28 Customer Touch Points  Sight: Newly designed cabin interior combines the
 Garuda has implemented the natural colors and Indonesia traditional motifs
28 Customer Touch  Sound: In-flight entertainment includes Indonesian and
Points, allowing passengers to international tunes
access Garuda’s plethora of  Taste: Unique Indonesian cuisine served as part of in
services online in-flight meals and refreshments
 Touch point services start  Scent: Indonesian aromatherapy introduced at Garuda
before a journey offices and airport lounges
begins, during the flight and  Touch: Superior service that is both caring and
even after arrival friendly, typical of Indonesian hospitality
22

24. 6 Cost Discipline
CASK (US¢) 1H-2011 OPEX – Top 10
Jet Fuel 1H-2010 PoT 1H-2011 PoT Δ%
51.3 66.0 66,0 83,2 95.2
(Usc/liter) Fuel 2,593.01 32% 4,394.70 38% 69.5
Fuel Burn 0.42 Rental & Charter
0.45 0.43 0.45 0.42 811.97 10% 1,307.43 11% 61.0
(liter/ATK) Flight
Ticketing,
8,1 804.42 10% 1,068.71 9% 32.9
7,0 7,6 Sales,Promo
6,2 6,7
General & Admin 641.81 8% 921.01 8% 43.5
User Charges &
655.11 8% 856.98 7% 30.8
Station Expenses
Passenger Services 665.6 8% 816.91 7% 22.7
2009 2010 2Q-10 1Q-11 2Q-11 Maintenance /
649.59 8% 685.32 6% 5.5
Overhaul
Flight Operation 432.69 5% 619.44 5% 43.2
CASK Excl-fuel (US¢) Depreciation /
713.73 9% 607.86 5% -14.8
Amortization
Others 252.32 3% 277.43 2% 10.0
4.7 4,7
Total Opex 8,220.21 100% 11,555.79 100% 40.6
4,5 PoT = Percent of Total
4,3 4,2  Fuel cost contribution is 38% from total cost; an increase
from previous year of 32% (from total cost).
 Fuel burn/RTK has decreased 7% compared to previous
2009 2010 2Q-10 1Q-11 2Q-11 year ; but at the same time fuel price increased 44.2%.
23

25. 7 Human Capital
1H-2010 1H-2011 ∆ % YoY
Number of Employees 5,142 5,963 16
Ground Staff 2,860 3,007 5.2
Cockpit Crew 585 888 (911) 36.4 (51.8)
Cabin Crew 1,698 2,068 21.8
ASK/Employee (‘000) 2,185 2,479 13.5
RPK/Employee (‘000) 1,485 1,820 22.3
Cockpit Crew/Aircraft 8 9 2.0
Cabin Crew/Aircraft 25 26 4.4
Personnel Expenses (bio) 1,123.3 1,638.0 45.8
% Personnel expenses 13.7% 14.2% 3.7
24

26. 4. Latest Update
25

27. Latest Update
Domestic & International Markets
•08 July 2011: Signing corporate sales with IWAPI (Indonesian Busines Women Association)
•01 Aug 2011: Signing Corporate Sales with Bank Indonesia
•15 Aug 2011 : Signing Corporate Sales with Senayan City Group
•22 Aug 2011: Signing Corporate Sales with PERADI (Indonesian Advocat Association)
•23 Aug-6Sept 2011: 99 extra flight during Hari Raya, additional 24,930 seat to be 891,697 seat
Citilink
•03 Aug 2011: Brand Refresh and Launching New livery of Citilink
•24 Aug 2011: Delivery of 1st A320-200
Fleet & Brand
•19 July 2011: Indonesia Best Brand Awards 2011-MARSH
•29 July 2011: Signing Club Deal Loan with 7 Consortium (Citibank, UBS, BCA, ICBC, BII, BoC & Permata)
•04 Aug 2011 : Indonesia Original Brand Awards 2011-SWA Magazine
Cost & Human Capital
•01 July 2011: Human Capital Initiative Culture Development Awards 2011-Business Review Magazine
•21 Aug 2011: 24 fresh graduate pilot from BIFA joint GA
26

28. Latest Update - Financial & Operating Indicators
July 2010 July 2011 ∆% YTD 2010 YTD 2011 ∆%
YoY YoY
Operational:
Aircraft Utilization (Hours) 10:23 11:23 1:23 9:24 10:40 1:16
Frequencies 8,288 10,467 26.3 53,165 65,486 23.2
On Time Performance 70.9 77.6 9.5 80.8 87.2 7.8
ASK (’000) 2,287,317 2,897,008 26.7 13,525,432 17,683,611 30.7
Average Fuel Price (US¢/L) 64,5 89.9 39.5 64.3 89.7 39.5
Passenger & Cargo:
Passenger Carried 1,159,749 1,512,324 30.4 6,228,786 8,639,738 38.7
RPK (‘000) 1,859,714 2,406,887 29.4 9,495,533 13,260,042 39.6
Seat Load Factor 81.3 83.1 2.2 70.21 74,98 6.8
Passenger Yield (US¢) 9.00 10.52 16.9 8,63 9.47 9.7
Financial:
CASK (US¢) 6.91 7.62 10.3 6.90 7.84 13.6
Notes: All figures for
CASK (excl fuel) (US¢) 4.48 4.35 -3.1 4.52 4.62 2.2 GA Main Brand only,
27

29. Latest Update Financial Summary (parent only)
July July ∆% YTD YTD ∆%
(IDR Billion)
2010 2011 YoY 2010 2011 QoQ
EBITDAR 494.2 747.2 51.2 1,509.6 2,202.1 45.9
Total Revenue 1,741.4 2,452.9 40.9 8,885.6 12,992.1 46.2
Total Expenses 1,553.0 1,993.4 28.4 9,174.7 12,980.9 41.5
Fuel 505.0 815.4 61.5 2,961.1 4,970.1 67.8
Rental & Charter Flight Equip Exp 163.5 207.2 26.7 954.4 1,508.7 58.1
Ticketing, Sales, Promotion 143.2 162.7 13.6 721.6 965.3 33.8
Others 741.3 808.1 9.0 4,537.6 5,536.8 22.0
Ops Income 188.4 459.5 143.9 -289.1 11.1 NA
Comprehensive Income 177.1 320.0 80.7 128.7 133.4 3.6
Total Assets 13,328.3* 16,852.2 26.4
Total Liabilities 9,871.1* 9,970.4 1.0
Equity 3,457.3* 6,881.8 99.1
Note: Exchange rate as of July 31, 2011 was at 8,505 IDR / USD.
*) as per 31 December 2010
28

30. 5. Outlook for 2011
29

31. Outlook for 2011
Domestic & International Markets
•Domestic & International traffic will remain robust, whereas in the remaining quarters SLF is
expected to be higher QoQ. Yield will likely to stay steady
•Will start to operate sub-100 seater
•There is a positive sign of Encouraging Advanced Booking
Citilink
•With the new A320 coming in, going forward, Citilink is expected to turnaround.
•Having revitalized the brand and with the new management in place, the outlook for Citilink
is very encouraging
•In 2011, it will operate 6 B737 and 4 A320 only (instead of 15 aircraft)
•Planning to spin-off in 2012
Fleet & Brand
•We will stay focus on 3 items to be improved: Aircraft Utilisation, Seat load Factor and
Passenger Yield.
Cost & Human Capital
•Fuel Price volatility remains a significant risk to the year end results.
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