MAS reported net profit of RM120.06mil for Q1

[M. Sofian H. 0]

Malaysian Airline System Bhd (MAS) reported net profit of RM120.06mil for the first quarter ended March 31, down 9.5% from RM132.71mil a year ago.

 

It announced Tuesday that operating profit declined to RM132.9mil from RM146.8mil a year ago due to higher operating expenses mainly from the increase in fuel cost.

 

Revenue was higher at RM3.75bil compared with RM3.54bil a year ago while earnings per share declined to 7.19 sen from 9.49 sen.

 

“The outlook for the aviation industry in 2008 is extremely challenging as fuel prices continue to escalate to record highs,” it said.

 

“Growing signs of a global economic slowdown, further liberalisation and increasingly excess capacity further compounded the tough business environment,” it said.

 

MAS said for the next quarter, the immediate focus was to manage the high fuel prices coupled with seasonal soft demand in view of the shoulder season in Europe, the United States and North Asia.

 

“The increased fuel surcharges and fares imposed will alter travelling patterns and frequency for both long haul leisure and business travels.

 

“With intensified competition coupled with huge capacity injection in 2008 especially for the Middle East and Asia, revenues are under tremendous downward pressure,” it said.

[jani 0]

How much do MH need to make to be totally out of the red? Or are they already?

[mohd sukri abd hamid 0]

malaysia airlines got profit 132.90 million for first quarter year..that very good...good job mh

How much do MH need to make to be totally out of the red? Or are they already?

 

[Pieter C. 5]

Malaysia Airlines Q1 Net Down 9.8 Percent

 

May 20, 2008

State-controlled Malaysia Airlines on Tuesday reported a 9.8 percent drop in first-quarter profit due to higher fuel costs.

 

The national carrier posted profit of MYR120 million ringgit (USD$36.96 million) for the three months ended March 31, down from MYR133 million a year earlier.

 

The airline, which posted two years of losses since 2005, returned to full-year profit in 2007, aided by a business turnaround plan that has seen cost reductions and better yields.

 

(Reuters)

 

Well done MH: it's still a profit !!!

 

[Izanee 0]

they are propping up profits by squeezing the pax as much as they can, selling aircraft and serving up poor quality inflight meals. MASkargo under JJ Ong did very well - when he left, MASkargo went downhill. It still makes a profit, but they have downsized considerably in terms of capacity.

[KK Lee 5]

 

 

With O fare promotion, expect the load factor to improve in the next few quarters. However, IJ&co will increase the fuel surcharge faster and more than actual cost incurred to compensate for dipping yield.

 

By this time next year, expect MH regular fare will be higher than almost all legacy airlines include SQ

 

 

 

[Chee Yong 0]

Hope MH will make it through to reduce the burdern of Malaysian government.

[BC Tam 2]

Hope MH will make it through to reduce the burdern of Malaysian government.

Hey hey hey ! The hornet's nest being agitated here

[S V Choong 4]

Hey hey hey ! The hornet's nest being agitated here

 

Oh yes, especially when someone wanted them to reinstate some unprofitable routes.