Financial Analysis of Airlines as Air Cargo Terminal Operator: Case Study PT. Garuda Indonesia Tbk Raniyah, Dony Abdul Chalid
All authors from University of Indonesia, Faculty of Economics and Business, Salemba, Jakarta, Indonesia
Abstract
PT. Garuda Indonesia Tbk is the only one of the airlines in Indonesia that operates as non-integrated cargo services and manages air cargo terminal service. This study aims to assess and evaluate the business model of airlines as an air cargo terminal operator. Correspondingly, in order to analyze the business model, the airline is run as an air cargo terminal operator on its own compared to if the cargo services outsourced to other parties at the terminal. The analysis will conduct by performing financial analysis and comparative study analysis. After that, scenario analysis will lead and decided the priority of air cargo business. The result is when the company decides to outsource the business to the other party is better than if they run by themselves. From the scenario analysis was that all the scenarios still better compared to if they run their business.
Keywords: Air Cargo, Terminal Operator, Financial Analysis, Warehouse Revenue, Comparative Study
