MAS back in black with 4Q profit

[Sri Ramani K. 0]

PETALING JAYA: Malaysia Airlines System Bhd (MAS) was back in the black in the fourth quarter of 2009, reporting RM610mil in net profit after a RM299.6mil loss in the third quarter.

 

Net profit for fiscal year 2009 was RM490mil, the company said in a statement.

 

In the third quarter that ended Sept 30, MAS had posted a net loss of RM299.6mil mainly due to a loss of RM202mil in derivative marked-to-market on fuel. MAS narrowed its operating loss to RM73mil for the quarter from RM421mil losses reported in the preceding quarter.

 

In the fiscal fourth quarter, MAS carried 3.4 million passengers attributed to “aggressive” domestic and global sales campaigns and “competitive” pricing, coupled with the seasonal peak travel period, the company said.

 

http://biz.thestar.com.my/news/story.asp?file=/2010/2/22/business/20100222173018&sec=business

[mohd sukri abd hamid 0]

very good..congrat MH and good job

[Tony 1]

Good stuff. See, you don't always need to price your product way up there to gain profit.

[Kenneth T 0]

Way to go....hope there is a return for the demand of air travel as the world's economy slightly improves...

[Sing Yew 1]

I hate to rain on the parade but if you were to look closer into the Financials, the profit's actually non-operating in nature. Primarily from derivative gains (fuel hedging).

It is the operating profit that matters most.

[Tony 1]

Hehe. SY, I'd give them a pat on the back now and kick them in the guts later if they roll into losses again (which by then I won't be surprised). Keeps them happy for a while, at least.

[flee 5]

I hate to rain on the parade but if you were to look closer into the Financials, the profit's actually non-operating in nature. Primarily from derivative gains (fuel hedging).

It is the operating profit that matters most.

Yes, but it did make a very small RM 3+ million operating profit. At the rate things are going, fuel hedging gains and losses might fall under "profit or loss from ordinary activities" since fuel price fluctuations are now the norm rather than the exception. So maybe we need to revise our criteria when assessing the financials!

Edited February 23, 2010 by flee

[M. Sofian H. 0]

congrate to all MH staff!!

i really surprise to hear about this.

Any update about Firefly? if their achieve the target to carry 1 million passenger for 2009 (if i not mistaken) and make a profit?