Blue Bird's First Quarter Profits Continue to Decline

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Yosepha Pusparisa 08/06/2020 15:42 WIB

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PT Blue Bird Tbk (BIRD)'s performance dropped by more than 50% due to the Covid-19 pandemic. The company only recorded a profit of Rp 13.74 billion in Q1 2020, down 84.5% year-on-year.

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Blue Bird's First Quarter Profits Continue to Decline

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PT Blue Bird Tbk (BIRD)'s performance in the first three months of this year declined due to the impact of the Covid-19 pandemic. The taxi service provider only earned Rp 13.74 billion in Q1 2020. This figure is down 84.5% from the same period in 2019, the largest decline in recent years.

In recent years, Blue Bird has experienced a continuous decline in profits. However, the Covid-19 pandemic has further shaken the company's condition. Blue Bird was forced to halt operations for part of its taxi fleet, such as the Jabodetabek Airport Connection (JAC) and Big Bird Shuttle services in Jakarta and Bandung.

Blue Bird, which employs 3,312 workers, has countered the Covid-19 pandemic through business diversification and operational efficiency across various lines. One example is a 50% salary cut for employees.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."