Malaysia Airlines posts Q4 profit on higher passenger revenue, reduced cost
Kuala Lumpur (XFN-ASIA) - Malaysian Airline System Bhd posted
a net profit of 121 mln rgt in the fourth quarter of 2006, from a loss of 611.3
mln a year earlier, on the back a marked increase in passenger revenue and cost
This is its second consecutive profitable quarter since it announced a business turnaround plan in February last year.
However, the airline posted a net loss of 136 mln rgt for the full year.
Analysts polled by XFN-Asia had expected the company to post a net loss of between 400 to 495 mln rgt for the full year, excluding one-off gains, compared with a loss of 1.26 bln in 2005.
Malaysia Airlines said it made a fourth quarter operating profit of 94 mln rgt, its second successive operating profit, while operating revenue for the full year came in at 13.17 bln rgt against 11.19 bln in 2005.