MALAYSIA AIRLINE SYSTEM REPORTED A NET LOSS OF RM 175.96 MILLION

 

Malaysian Airline System Bhd (MAS) reported a net losss of 175.98 million ringgit in the second quarter ended June 30 compared with a net loss of 349.25 million ringgit in the same quarter a year ago.

The improved performance was due to higher revenue in both the passenger and cargo business, according to a stock exchange filing yesterday.

Revenue rose 14.3 percent to RM3.772 billion year on year.

The airline reported an operating profit of RM7.93 million. In the same quarter a year ago, the airline reported an operating loss of RM101.92 million.

The airline said it will focus on driving revenue by introducing new destinations and through aggressive marketing strategies.

Shares in MAS earlier closed down 6.85 percent at 34 sen a share while the benchmark stock index was 1.85 percent lower.

Source:  Reuter