Malaysia Airlines losing USD1.3 mln per day, sees “soft” outlook, downward pressure on yields

Malaysia Airlines (MAS) plunged to a MYR420 million (USD120.3 million) operating loss in the three months ended 30-Jun-2009 (its fiscal second quarter), but is trumpeting record quarterly net profits, thanks to a massive MYR1.3 billion (USD371 million) fuel hedging gain. But the underlying business is challenged, and the outlook for the third quarter is "expected to remain soft", according to MAS.