Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Malaysia Airlines reports loss, predicts recovery

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
Published:
KUALA LUMPUR, Malaysia -- Malaysia Airlines said Wednesday it is on track to become profitable by the end of next year because its business turnaround plan has gained momentum.
The airline nevertheless reported a second straight quarterly loss for the three months through June. The quarterly net loss of 175.2 million ringgit ($53 million) was largely due to foreign exchange fluctuations and was lower than a loss of 349 million ringgit ($106 million) a year earlier.
Operating revenue rose 12 percent to 3.6 billion ringgit ($1.1 billion).
For the first half of 2013, the company's net loss decreased 12.7 percent from the previous year to 454 million ringgit ($138 million).
Chief executive Ahmad Jauhari Yahya said the company is on track to "build sustainable profit hopefully by the end of 2014."
The airline will announce plans later this year to purchase new planes as it will have to retire more than 40 old aircraft, he said.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup