Malaysia Airlines shrinks losses
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Malaysia Airlines registered a loss after tax of 171 million ringgit (Bt1.71 billion) for the first quarter ending March 31, a significant 29-per-cent reduction from the RM242-million loss for the same period last year.
This was achieved despite higher jet fuel price averaging US$135 per barrel during the quarter compared to US$120 per barrel in the previous year, the airline said in a statement yesterday. Total revenue of the Malaysia Airlines’ MAS Group stood at RM3.11 billion while overall operating expenditure was RM3.42 billion, thus leading MAS to register an operating loss of RM307million for the first three months of 2012, 10 per cent lower year-on-year.
MAS group chief executive Ahmad Jauhari Yahya said:
“We cut unprofitable routes especially in long-haul where yields were low. This helped us to immediately improve our Revenue per Available Seat Kilometre performance year-on-year.
“On the cost side, we lowered our fuel bill with improved consumption as a result of newer fuel-efficient aircraft.”
