It has lost 15.03 percent of its value since the beginning of the year. Garuda’s shares rose 1.23 percent to Rp 328 apiece on Tuesday closing.

The company booked a US$1.07 billion loss between January and September last year, a reversal from the $122.4 million profit it saw in the same period last year. Garuda’s statement is also meant to reassure customers over company services as it faces a sharp financial crunch due to domestic and international travel restrictions last year. Read also: Lion Air, Garuda scrutinize Boeing MAX 8 fleet The company was ordered to ground its sole Boeing 737 MAX 8 aircraft after another of the popular jetliner models crashed in Addis Ababa, Ethiopia, killing all 157 people on board, just five months after the same model belonging to Indonesian carrier Lion Air crashed into the Java Sea, killing all passengers and crew. Garuda last grounded a Boeing aircraft in March 2019 at the behest of Indonesia's Transportation Ministry. The engine generally serves older planes. Other air carriers have since grounded their 777s with P&W 4000 engines, including United Airlines, Korean Air and Asiana Airlines. “We are working with these regulators as they take actions while these planes are on the ground and further inspections are conducted by Pratt & Whitney,” the company wrote in a statement on Sunday. Air Canadas regional subsidiary, Jazz operates a fleet CRJs, DHC Dash 8s and Embraer 175s. Read also: Boeing calls for grounding of some 777s after Denver engine failure Air Canada has a fleet of 89 wide body aircraft consisting of the Airbus A330, plus variants of the Boeing 777 and 787 families. In response, Boeing recommended that air carriers suspend the operation of a total of 128 777s powered by P&W 4000 engines, until the FAA identifies the appropriate inspection protocol.

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