Malaysia Airlines shows steady improvement in 2016 Q4
Malaysia Airlines said it finished last year ahead of its budgeted loss, with a “strong result” during the final quarter of 2016. The company said it is making steady progress on its turnaround plan and continues to seek out cost savings for the year ahead. Malaysia Aviation Group Berhad does not release full financial statements, as it is not publicly traded, but said it finished 49% ahead of its budged loss under the business plan for fiscal year 2016. The airline said it made a profit in Dec 2016 and that passenger load factor for Q4 improved to 81%, up from 70% in Q4 2015. The Group said it achieved a 90% load factor for the final month of 2016. Looking forward, the Group remains cautious for the outlook in 2017, where the weaker ringgit to the US dollar, overcapacity and intense competition are expected to dominate. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-03-02/oneworld/malaysia-airlines-shows-steady-improvement-in-2016-q4
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Malaysia Airlines shows steady improvement in 2016 Q4
Malaysia Airlines said it finished last year ahead of its budgeted loss, with a “strong result” during the final quarter of 2016. The company said it is making steady progress on its turnaround plan and continues to seek out cost savings for the year ahead. Malaysia Aviation Group Berhad does not release full financial statements, as it is not publicly traded, but said it finished 49% ahead of its budged loss under the business plan for fiscal year 2016. The airline said it made a profit in Dec 2016 and that passenger load factor for Q4 improved to 81%, up from 70% in Q4 2015. The Group said it achieved a 90% load factor for the final month of 2016. Looking forward, the Group remains cautious for the outlook in 2017, where the weaker ringgit to the US dollar, overcapacity and intense competition are expected to dominate. <br/>
