Malaysia Airlines reports operating profit in 2Q2013, expects better second half

Malaysia Airlines revenue up 12% - financial highlights (according to Malaysian Financial Reporting Standards):

• Three months ended 30-Jun-2013:
• • Operating revenue: MYR3594 million (USD1171 million), +11.7% year-on-year;
  • Operating costs: MYR3765 million (USD1226 million), +10.6%;
  • Operating profit: MYR7.9 million (USD2.6 million), compared to a loss of MYR101.9 million in p-c-p;
  • Net profit (loss): (MYR175.2 million) (USD57.1 million), compared to a loss of MYR348.7 million (USD113.6 million) in p-c-p;
  • Passenger numbers: 4.2 million, +29%;
  • Passenger load factor: 80.4%, +6.6 ppts;
  • Passenger yield: -14%;
• Six months ended 30-Jun-2013:
• • Operating revenue: MYR6983 million (USD2275 million), +11.2%;
  • Operating costs: MYR7476 million (USD2435 million), +9.5%;
  • Operating profit (loss): (MYR157.4 million) (USD51.3 million), compared to a loss of MYR408.8 million (USD133.2 million) in p-c-p;
  • Net profit (loss): (MYR454.8 million) (USD148.2 million), compared to a loss of MYR521.0 million (USD169.7 million) in p-c-p;
  • Total assets: MYR22,623 million (USD7370 million);
  • Cash and bank balances: MYR5549 million (USD1808 million);
  • Total liabilities: MYR17,906 million (USD5834 million). [more - original PR]

*Based on the average conversion rate at USD1 = MYR3.0695

Malaysia Airlines: "Traditionally the second half of the year is better compared to the first half. We believe the rest of 2013 will be encouraging. We are working hard to sustain the strong growth in passenger traffic, capacity and seat loads in response to market demand. The arrival of more new aircraft until the end of 2013 will further improve our average fleet age and product offering," Ahmad Jauhari Yahya, CEO. Source: Company statement, 20-Aug-2013.