Malaysia Airlines suffers fourth straight quarter loss
KUALA LUMPUR (AFP) - Struggling flag carrier Malaysia Airlines said on Tuesday it recorded its fourth straight quarterly loss in the last three months of 2013 and warned of a "challenging" year ahead due to intense competition.
The airline reported a net loss of RM343 million (S$131.2 million) for the quarter ending December 31, compared to a RM51.4 million gain in the fourth quarter in 2012, it said.
For the full year, it chalked up RM1.17 billion in losses, almost three times as much as in 2012, when it lost RM433 million amid an aggressive cost-cutting campaign.
It said the 2013 fourth quarter losses were due to the ringgit depreciating, unrealised foreign exchange losses and finance costs.