Malaysia Airlines reports loss for 3Q 2011

Despite recording a 5% higher revenue of RM3,565m compared to RM3,400m in the previous quarter, Malaysia Airlines announced a net loss of RM478m for the third quarter of 2011 ended 30 September 2011. This was attributed to higher fuel costs and unrealized foreign exchange losses from outstanding USD borrowings. The cumulative year-to-date net loss for the Group stood at RM1,247m. Operating loss for the quarter under review was RM156m, a significant improvement from the preceding two quarters, 2Q 2011/RM412m; 1Q 2011/RM312m.