Malaysia Airlines narrows 2018 loss in face of ‘intense competition’
Malaysia Airlines reported a net loss of MYR791.7m (US$190.5m) for 2018, narrowed from a MYR812.1m loss in the previous year. Revenue was up 0.8% year-over-year to MYR8.74b, the carrier reported in the delayed financial results. CE Izham Ismail said in March that 2018 saw “intense competition, with supply outstripping demand, as well as volatility in fuel and foreign exchange.” Worsening conditions had derailed the airline’s turnaround plans, Izham said in June, but the carrier will continue to look to improve revenue through measures such as “deeper collaboration with partners,” most recently a codeshare agreement with British Airways. MAB’s total assets slid from MYR5.78b to MYR5.12b, with liabilities increasing 15.7% to MYR5.9b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-10-14/oneworld/malaysia-airlines-narrows-2018-loss-in-face-of-2018intense-competition2019
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Malaysia Airlines narrows 2018 loss in face of ‘intense competition’
Malaysia Airlines reported a net loss of MYR791.7m (US$190.5m) for 2018, narrowed from a MYR812.1m loss in the previous year. Revenue was up 0.8% year-over-year to MYR8.74b, the carrier reported in the delayed financial results. CE Izham Ismail said in March that 2018 saw “intense competition, with supply outstripping demand, as well as volatility in fuel and foreign exchange.” Worsening conditions had derailed the airline’s turnaround plans, Izham said in June, but the carrier will continue to look to improve revenue through measures such as “deeper collaboration with partners,” most recently a codeshare agreement with British Airways. MAB’s total assets slid from MYR5.78b to MYR5.12b, with liabilities increasing 15.7% to MYR5.9b. <br/>
