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Malaysia Airlines remains in the red in 1Q2012

23-May-2012 11:58 AM

Malaysia Airlines revenue down 2% – financial highlights for three months ended 31-Mar-2012:

  • Operating revenue: MYR3059 million (USD1000 million), -2.2% year-on-year;
    • Cargo: MYR431.2 million (USD141.0 million), -15%;
  • Operating costs: MYR3422 million (USD1119 million), -3.1%;
    • Fuel: MYR1310 million (USD428.4 million), +12.2%;
    • Labour: MYR591 million (USD193.3 million), +7%;
  • Operating profit (loss): (MYR306.9 million) (USD100.4 million), compared to a loss of MYR340.5 million (USD111.3 million) in p-c-p;
  • Profit (loss) before tax: (MYR169.3 million) (USD55.4 million), compared to a loss of MYR238.3 million (USD77.9 million) in p-c-p;
  • Net profit (loss): (MYR171.8 million) (USD56.2 million), compared to a loss of MYR242.3 million (USD79.2 million) in p-c-p;
  • Passenger yield: +12%;
  • Revenue per ASK: +8%;
  • Cargo yield: +6%;
  • Total assets: MYR13,788 million (USD4509 million), +10.3% when compared to period ended 31-Dec-2011;
  • Cash and bank balances: MYR1427 million (USD466.8 million), +40.7% when compared to period ended 31-Dec-2011;
  • Total liabilities: MYR12,852 million (USD4203 million), +12.3% when compared to period ended 31-Dec-2011. [more – original PR]

*Based on the average conversion rate at USD1 = MYR3.0581

Malaysia Airlines: “Going forward, apart from aggressive marketing, promotion and branding initiatives, the emphasis will be to increase revenue through increasing frequency to popular regional destinations which yield higher revenue and better cost management. The re-fleeting of our aircraft is also a significant initiative to offer customers an improved product for their air travel needs and the A380 will spearhead this change. The challenge for Malaysia Airlines in 2012 is to improve revenue and cost management as part of its business recovery. Given the unpredictable external environment and continued high fuel prices, the Group expects the remaining outlook for 2012 to be challenging but will strive to maintain an accelerated recovery as stated in the Business Plan.” Source: Company statement, 22-May-2012.