28-Feb-2011 11:21 AM
Malaysia Airlines 2010 results exceed expectations
Malaysia Airlines revenue up 8% - financial highlights:
- Three months ended 31-Dec-2010:
- Total revenue: USD1203 million, +8.4% year-on-year;
- Passenger surcharges: USD133.6 million, +19.0%;
- Cargo fuel surcharges: USD45.2 million, +19.0%;
- Total costs: USD1158 million, +5.3%;
- Fuel: USD394.3 million, +12.9%;
- Operating profit: USD44.9 million, +372%;
- Net profit: USD74.0 million, -64.7%;
- Passenger traffic: +10%;
- Passenger load factor: 77.4%, +0.9 ppt;
- Revenue per ASK: USD 6.16 cents, +6%;
- Cost per ASK excl fuel: USD 5.73 cents, -7%;
- Total revenue: USD1203 million, +8.4% year-on-year;
- 12 months ended 31-Dec-2010:
- Operating revenue: USD4251 million, +14.5%;
- Operating costs: USD4363 million, +9.0%;
- Operating profit: USD86.4 million, compared with a loss of USD201.3 million in p-c-p;
- Net profit: USD76.8 million, -54.9%;
- Total assets: USD4086 million, +45.9%;
- Total liabilities: USD2928 million, +14.0%;
- 2011 forecast:
- Operating profit: USD98.2 million to USD196.5 million. [more]
* Based on the conversion rate USD1 = MYR3.0535
Malaysia Airlines: "In addition, the economy in Europe and North America are still weak while the unrest in the Middle East will fuel a steep rise in fuel prices. Competition is also expected to intensify. Over the next few years, we will be growing our network. With the new aircraft coming into the system, especially with the A380 in 2012, we expect to see more capacity increases as well," Sri Azmil Zahruddin, Managing Director and CEO. Source: Malaysia Airlines, 25-Feb-2011.