Malaysia Airlines Posts Wider Net Loss – Q1 2013
Malaysia Airlines, the national flag carrier of Malaysia posted a wider net loss of RM278.8 million for the Q1 period ending 31 March 2013, in its submission to the Bursa Malaysia today. Last year, it posted a net loss of RM171.8 million in Q1. Revenue rose from RM3.1 billion last year to RM3.5 billion, however the company suffers from higher finance costs and loss in foreign currency of RM21 million.
Legacy carriers in Asia are facing tougher competitions as fares declines and rising capacity offered by other carriers. Intra regional travels within South East Asia may also see rising seat capacity with emergence of new airlines backed by AirAsia and Lion Air.