KUALA LUMPUR - NATIONAL carrier Malaysia Airlines said on Thursday it had soared back into the black in the third quarter as it posted record passenger figures and as its cargo business improved.
The airline said it made a profit of 233 million ringgit (S$97 million) in the three months to the end of September, compared with a net loss of 300 million ringgit last year as the sector was hit by the global downturn.
The carrier made a net profit of 9.0 million ringgit for the first three quarters compared to a 120 million ringgit loss for the same period last year. That rise came despite a 535 million ringgit loss in the April-June quarter.
'We are delighted to be returning to profitability this quarter with both passenger and cargo segments performing well,' chief executive officer Azmil Zahruddin said. 'Amidst a tough operating environment, we have managed to increase passenger load factors and yield,' he added. 'This is due to aggressive domestic and global sales campaigns, competitive pricing coupled with the economic recovery in Asia Pacific.'
Mr Azmil said the airline recorded its highest seat factor in 15 years at 78.6 per cent in the quarter with 3.3 million passengers compared to 76.7 per cent for the same period a year ago.
Mr Azmil said the airline's cargo arm, MASkargo, saw a 34.0 per cent increase in revenues with figures from the Association of Asia Pacific Airlines (AAPA) showing load factors outperforming other airlines in the region by 4.0 per cent. -- AFP
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