KUALA LUMPUR: MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) posted a net loss of RM534.73 million for the second quarter ended June 30, 2010 compared to net profit RM874.94 million a year ago, mainly due to higher fuel expenditure.
In a filing to Bursa Malaysia Securities on Monday, Aug 16, it said the group recorded a lower operating loss of RM285.6 million for the second quarter ended 30 June 2010 (Quarter ended 30 June 2009: loss of RM425.6 million).
The lower operating loss was mainly due to higher incremental operating revenue as compared to operating expenses, it said.
The Group recorded a loss after tax after including, amongst others, derivative losses of RM217.2 million, it said.
On its prospects for the current year, MAS said given that passenger load factor had recovered to the pre-crisis level, the focus for second half of 2010 shifts to strengthening yield and intensifying fuel cost mitigating initiatives.
The growth in capacity will continue following recent three leased B737-800 aircraft entering into service, bringing the total of leased B737-800 to six aircraft, it said.
The fleet renewal programme is on schedule and the first MAS-owned B737-800 delivery is expected in October 2010.
MAS has also launched a new hub at Kota Kinabalu for North Asia and China destinations.
The airline said the arrival of the first B737-800 aircraft, complemented by newly leased B737-800 aircraft, would enable it to further improve yield and increase premium passengers in coming quarters.
As for cargo performance, the outlook remains robust in line with the strong recovery in the cargo industry, it said.
'On the domestic front, encouraging Firefly performance has led to a decision to firm up an additional three ATR72 aircraft, two of which are scheduled for delivery in the fourth quarter this year.
'For full year 2010, the Operating Profit target of the Group is RM100 million - RM325 million, while the On Time Performance target for the Company is 84.7% to 87%,' it said.
In a filing to Bursa Malaysia Securities on Monday, Aug 16, it said the group recorded a lower operating loss of RM285.6 million for the second quarter ended 30 June 2010 (Quarter ended 30 June 2009: loss of RM425.6 million).
The lower operating loss was mainly due to higher incremental operating revenue as compared to operating expenses, it said.
The Group recorded a loss after tax after including, amongst others, derivative losses of RM217.2 million, it said.
On its prospects for the current year, MAS said given that passenger load factor had recovered to the pre-crisis level, the focus for second half of 2010 shifts to strengthening yield and intensifying fuel cost mitigating initiatives.
The growth in capacity will continue following recent three leased B737-800 aircraft entering into service, bringing the total of leased B737-800 to six aircraft, it said.
The fleet renewal programme is on schedule and the first MAS-owned B737-800 delivery is expected in October 2010.
MAS has also launched a new hub at Kota Kinabalu for North Asia and China destinations.
The airline said the arrival of the first B737-800 aircraft, complemented by newly leased B737-800 aircraft, would enable it to further improve yield and increase premium passengers in coming quarters.
As for cargo performance, the outlook remains robust in line with the strong recovery in the cargo industry, it said.
'On the domestic front, encouraging Firefly performance has led to a decision to firm up an additional three ATR72 aircraft, two of which are scheduled for delivery in the fourth quarter this year.
'For full year 2010, the Operating Profit target of the Group is RM100 million - RM325 million, while the On Time Performance target for the Company is 84.7% to 87%,' it said.
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