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Corrected results see Garuda Indonesia fall back to net loss for 2018

Forced amendment comes as airline faces stiff regional competition

Garuda was ordered in June to 'fix and restate' its 2018 results after an accounting error relating to an inflight Wi-Fi contract was discovered.   © Reuters

JAKARTA -- Indonesian flagship carrier Garuda Indonesia has fallen back into a net loss for 2018 after it was instructed by the country's financial authorities to correct its financial results.

The company's revised financial statement, released on Friday, showed it ended the year with a net loss of $179.2 million, reversing the previously stated net profit of $809,846.

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