1-Mar-2013 10:01 AM
MAS reports 2nd consecutive quarterly profit in 4Q2012, LCC competition to put pressure on yield
Malaysia Airlines revenue up 1% - financial highlights:
- Three months ended 31-Dec-2012:
- Operating revenue: MYR3662 million (USD1186 million), +1.4% year-on-year;
- Operating costs: MYR3823 million (USD1238 million), -23.5%;
- Operating profit: MYR43.8 million (USD14.2 million), compared to a loss of MYR1321 million (USD427.7 million) in p-c-p;
- Net profit: MYR51.4 million (USD16.6 million), compared to a loss of MYR1277 million (USD413.7 million) in p-c-p;
- 12 months ended 31-Dec-2012:
- Operating revenue: MYR13,287 million (USD4303 million), -2.7%;
- Operating costs: MYR14,117 million (USD4572 million), -12.8%;
- Operating profit: MYR469.8 million (USD152.2 million), +89.8%;
- Net profit (loss): (MYR361.0 million) (USD116.9 million), compared to a loss of MYR2296 million (USD743.5 million) in p-c-p;
- Total assets: MYR17,291 million (USD5600 million), +38.3%;
- Cash and bank balances: MYr2148 million (USD695.8 million), +112%;
- Total liabilities: MYR17,153 million (USD5555 million), +49.9%. [more - original PR]
*Based on the average conversion rate at USD1 = MYR3.0877
Malaysian Airlines: "Whilst Malaysia Airlines is located at the centre of aviation's future growth hub, the airline remains cautiously optimistic of a challenging operating environment in the future. Although increased demand will be driven by emerging markets, a host of low cost carriers (LCCs) now offer value-for-money travel and increased competition, thereby putting pressure on yields of all airline players. In addition, rising fuel costs, demand shocks and seat over-capacity continue to bring challenges. Malaysia Airlines expects 2013 to continue to remain challenging." Source: Company statement, 28-Feb-2013.