MAS reports third consecutive quarterly loss in 3Q2011, expects weaker 4Q

Malaysia Airlines revenue up 5% - financial highlights for three months ended 30-Sep-2011:

• Operating revenue: USD1096 million, +5.2% year-on-year;
• Operating costs: USD1168 million, +10.6%;
• Operating profit (loss): (USD49.1 million), compared to a profit of USD11.0 million in p-c-p;
• Net profit (loss): (USD149.9 million), compared to a profit of USD73.2 million in p-c-p;
• Total assets: USD3872 million, -1.1% compared to period ended 31-Dec-2010;
• Cash and bank balances: USD321.5 million, -50.9% compared to period ended 31-Dec-2010;
• Total liabilities: USD3143 million, +12.1% compared to period ended 31-Dec-2010. [more - original PR]

*Based on the conversion rate at USD1 = MYR3.18557

Malaysia Airlines: "The operating environment for airlines in general remains challenging for the fourth quarter of 2011. Not only is jet fuel price staying high, the worsening economic situation in Europe is being translated into weak forward booking profiles for our long-haul routes. Notwithstanding management's efforts to mitigate the adverse situation, we expect the fourth quarter operational results to be weaker than the current quarter." Company statement. Source: Malaysia Airlines, 21-Nov-2011.