Malaysian Reports Lower Q1 Net Loss

 

Malaysian Reports Lower Q1 Net Loss

Malaysian Reports Lower Q1 Net Loss

Malaysia Airlines reported a loss after tax of MYR171 million Malaysian ringgit (USD$54.57 million) in the first quarter ending March 31, 29 percent lower than the net loss of MYR242 million for the same quarter last year.

The better performance came despite higher jet fuel price averaging USD$135 per barrel during the quarter compared to USD$120 per barrel in the previous year, the company said in a filing to the local stock exchange on Tuesday.

Malaysian’s chief executive Ahmad Jauhari Yahya said: “From these Q1 results, we feel confident of continuing improvements in performance, given that the initiatives from our business plan are bearing fruit.”

(Reuters)



Privacy policyContact us | Advertise with us