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Garuda Indonesia posts first profit in three quarters

In turnaround push, flag carrier targets $100m in cost savings

Garuda Indonesia is cutting back on premium offerings that have defined its image in recent years.

JAKARTA -- Flag carrier Garuda Indonesia posted a jump in third-quarter profit thanks to aggressive cost cuts that offset higher fuel prices, providing relief for the airline's turnaround efforts.

The carrier on Wednesday reported a net profit of $59.9 million for the July-September period, three times what it made one year earlier and its first quarterly profit in three quarters.

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