Malaysian Airline reports Q3 net loss of $194m

Malaysian Airline reports Q3 net loss of $194m

KUALA LUMPUR - Malaysian Airline Systems Bhd (MAS) said on Tuesday, it recorded a net loss of 484 million Malaysian ringgit (S$194 million) in the third quarter ended Sept 30 compared with a net loss of 1.247 billion ringgit in the same quarter a year earlier.

The better performance was due to its route rationalisation programme which helped the airline cut fuel costs, the national airline said in a statement.

Revenue fell 2 per cent to 3.5 billion ringgit year on year.

The airline reported a small operating profit of 4 million ringgit, ending a six quarter run of losses. In the same quarter a year ago, the airline reported an operating loss of 192 million ringgit.

Moving forward, the airline said its focus is to incerase revenue and manage costs.

Shares in Malaysian Airline was unchanged on Tuesday at 1.01 ringgit a share, outperforming the benchmark stock index's 0.6 per cent drop.

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