flee 5 Report post Posted May 17, 2010 KUALA LUMPUR: Malaysian Airline System Bhd's (MAS) recorded a net profit of RM310.05mil for the first quarter ended March 31, 2010 versus a net loss of RM698.55mil a year earlier. In a note to Bursa today, it said the rise in profit was due to a derivative gain from fuel hedging contracts rise to RM56.7mil from a derivative loss of RM557mil a year ago. Revenue was higher at RM3.30bil from RM2.72bil previously while earnings per share was 10.64 sen from a loss per share of 34.02 sen. Its operating profit was RM289.5mil, a contrast from an operating loss of RM141.1 million a year ago, due to an increase in other operating income as a result of A380 compensation as well as improvement in passenger and cargo traffic demand. MAS recorded an operating profit of RM289.5mil from an operating loss of RM141.1mil mainly due to the increase in other operating income as a result of A380 compensation as well as improvement in passenger and cargo traffic demand. Source: http://biz.thestar.com.my/news/story.asp?file=/2010/5/17/business/20100517193634&sec=business Media Release: http://malaysiaairlines.listedcompany.com/misc/PressRelease/Press_Release_1Q2010.pdf Bursa Announcement: http://malaysiaairlines.listedcompany.com/misc/BursaReport/Bursa_Announcement_1Q2010.pdf Presentation: http://malaysiaairlines.listedcompany.com/misc/Presentation/ResultPresentation_1Q2010.pdf Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted May 17, 2010 Well done MH !!! Malaysia Airlines Turns To Q1 Profit May 17, 2010 Malaysia Airlines on Monday said fuel hedging gains and compensation for delayed aircraft delivery helped it return to profit in the first quarter, but warned the industry was still struggling to recover. The state-owned airline posted January-March net profit of MYR310 million Malaysian ringgit (USD$97.18 million) against a loss of MYR698.5 million in the year-ago quarter. It made a gain of MYR56.7 million from fuel hedging contracts during the quarter against a loss of MYR557 million a year ago. Malaysia Airlines' fuel cost rose 42 percent in the first quarter to MYR1.01 billion as a result of the 55 percent rise in the price of jet fuel and the company said it was 60 percent hedged at USD$100 per barrel for 2010 and 40 percent hedged at USD$100 for 2011. Europe's economic turmoil resulting from speculation that Greece may default on its debts and the fragile outlook for the global economy will continue to dampen the air travel industry, it said. "The outlook for the second quarter 2010 remains challenging. Oil prices continue to be volatile given the uncertainty in demand and supply and volatility of the US dollar," Malaysia Airlines said in a statement. The six-day shutdown of much of European airspace from the Icelandic volcanic eruption in April is estimated to cost carriers USD$1.7 billion in lost revenues, global airlines body IATA said earlier this month. But airlines are still expected to fare better financially this year, with share prices and fares up, said IATA. (Reuters) Share this post Link to post Share on other sites
Eugene Koh 4 Report post Posted May 18, 2010 Reported on Sydney's Morning Herald today that Airbus confirmed they paid USD30 million in compensation to MAS. This exclude the 3rd time delayed delivery. Share this post Link to post Share on other sites
Ja Singh 2 Report post Posted May 18, 2010 Reported on Sydney's Morning Herald today that Airbus confirmed they paid USD30 million in compensation to MAS. This exclude the 3rd time delayed delivery. Looks like buying the A380 has been a saving grace for MH, making them profit even before its arrival into the fleet. Share this post Link to post Share on other sites
Yusoff 1 Report post Posted May 18, 2010 Yay!.. Can we have a more decent meal now?.... <_> Share this post Link to post Share on other sites
Ikman Ikreza 0 Report post Posted May 18, 2010 (edited) Congrats MH for profit..one more thing, perhaps future MH change back refreshment meal from peanuts to sandwich/muffins..hehehe.. Edited May 18, 2010 by Ikman Ikreza Share this post Link to post Share on other sites
fenandri 3 Report post Posted May 18, 2010 Congrats MH for profit..one more thing, perhaps future MH change back refreshment meal from peanuts to sandwich/muffins..hehehe.. peanuts/crisp are okay for me for flight less than an hour. croissant sandwich(cheese,chicken) must be serve for flight 1hr-2hr (replacing the hot meal) and it must be in good quality. and serve the drinks in can!!! new PTV in 738 will kept people busy. im hoping fee wifi also Share this post Link to post Share on other sites
Johan Z 0 Report post Posted May 18, 2010 A380 order finally brings something to MH. It's time to win your customers back. No more LCC cost-cutting ridiculous stuff. Share this post Link to post Share on other sites
flee 5 Report post Posted May 18, 2010 The A380 has been saving MH's bacon and they still tell the govt. that it is a liability and need protection on the KUL-SYD route? If so, they should perhaps cancel the order and then it will no longer be a burden! Share this post Link to post Share on other sites
