* Sees 2018 net profit at $8.9 mln vs $26.3 mln loss street view
* Forecasts 2018 revenue at $4.9 bln vs $4 bln 2017 estimate (Recasts, adds 2017 revenue estimate, bonds sales plan)
JAKARTA, Jan 23 (Reuters) - Flag carrier PT Garuda Indonesia is targeting a modest net profit this year as passenger numbers and revenue increase, its finance director said on Tuesday.
Revenue in 2018 is expected to rise to $4.9 billion from an estimated 2017 revenue of around $4 billion, finance director Helmi Imam Satriyono told reporters, with the airline forecast to report a net profit of $8.9 million.
Garuda shares rose 2 percent on Tuesday. The consensus forecast from three analysts polled by Thomson Reuters I/B/E/S was a loss of $26.3 million in 2018.
The airline is expected to release its 2017 earnings results next month. It reported a $222 million net loss for in the first nine months of 2017.
Garuda estimates it will report an 11 percent rise in passenger numbers this year, up from 24 million passengers carried last year, Satriyono said.
Garuda’s chief executive Pahala Mansury said last month the company’s international traffic declined late last year due to Bali’s Mount Agung eruption, but domestic flights had held up.
Satriyono added that the company is planning to issue $750 million in global bonds to refinance old debt, as well as separate 2 trillion rupiah ($150.21 million) in bonds to finance operational expenses and business expansion.
“At the latest we hope to issue them in June,” Satriyono said.
Garuda unit PT Garuda Maintenance Facility AeroAsia said on Monday it would pick Air France-KLM’s maintenance, repair and overhaul unit as a strategic investor after narrowing down a list of potential partners.
Garuda’s CEO had estimated in October that GMF AeroAsia could raise $200 million from selling a 20 percent stake to a strategic buyer. ($1 = 13,315 rupiah) (Reporting by Cindy Silviana; Writing by Fransiska Nangoy and Jamie Freed; Editing by Muralikumar Anantharaman)