MAS reported half year loss of USD 203.3 million, nearly double to that of the same period last year. Here's the press:
Losses at Malaysia Airlines System (MAS) nearly doubled in the first six months of this year with the Kuala Lumpur-based carrier reporting it was USD$203.3 million in the red. The airline said the business environment had already weakened before the September 11 attacks on the US and it expects the three months to March to be "difficult" as the current economic conditions continue to be volatile.
In the six months to September the latest losses compared to a shortfall of USD 104.7 million in the same period last year. Sales fell to USD 1.12 billion from USD 1.19 billion, but the Malaysian ringgit strengthened against most currencies and this translated into lower revenue.
MAS said it might have to make additional changes to recovery plans announced in July, as the situation is "highly dynamic" and dependent on the global environment. The company has increased security measures to help restore travelers' confidence, in order to improve passenger and cargo loads. A 51.8 percent fare increase on domestic routes within Peninsular Malaysia, introduced in August this year, will continue to improve contribution to the group's revenue, it added. The airline said it maintained its overall load factor of 65.1 percent up to September 2001.