Malaysia Airline Systems operating loss halved in 1Q2013

Malaysia Airline Systems revenue up 11% - financial highlights for three months ended 31-Mar-2013:

• Operating revenue: MYR3389 million (USD1100 million), +10.8% year-on-year;
  • Passenger: MYR2470 million (USD801.9 million), +11%;
• Operating costs: MYR3711 million (USD1205 million), +8.5%;
• Operating profit (loss): (MYR165.3 million) (USD53.7 million), compared to a loss of MYR306.9 million (USD99.6 million) in p-c-p;
• Net profit (loss): (MYR278.8 million) (USD90.5 million), compared to a loss of MYR171.8 million (USD55.8 million) in p-c-p;
• Passenger numbers: 3.6 million, +16%;
• Load factor: 76.6%, +3.6 ppts;
• Yield: MYR24.2 sen (USD7.86 cents), -5%;
• Total assets: MYR19,614 million (USD6368 million), +13.4% when compared to period ended 31-Dec-2012;
• Cash and bank balances: MYR2418 million (USD785.1 million), +12.5% when compared to period ended 31-Dec-2012;
• Total liabilities: MYR17,758 million (USD5766 million), +17.3% when compared to period ended 31-Dec-2012. [more - original PR]

*Based on the average conversion rate at USD1 = MYR3.08

Malaysia Airline Systems: "The Group remains cautiously optimistic of its performance for the rest of the year. Whilst the carrier's operating statistics for the first quarter showed strong growth, the business environment is getting tougher. Added capacity in the market, increased competition and continued high jet fuel prices are putting pressure on yields." Source: Company statement, 29-May-2013.