Malaysia Airlines in the red again with net loss of almost $68m
Published on Aug 20, 2013 7:37 PM
KUALA LUMPUR (AFP) - Struggling flag carrier Malaysia Airlines said on Tuesday that it has recorded a second consecutive quarterly loss after failing to overcome drag from earlier borrowings.
The airline said it made an operating profit of 7.9 million ringgit (S$3,1 million) in the second quarter ending June 30 but still ended up with a net loss of 175.2 million (S$67.81 million) mainly due to unrealised foreign exchange losses.
This improved on the 348.7 million ringgit loss in the same period a year ago, before the carrier moved into the black for the second half of 2012.
But in a statement, the airline said it was confident it would repeat last year's pattern as "traditionally the second half of the year is better compared to the first half".
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!