MALAYSIA Airlines announced a net profit of RM876 million for its second quarter ending 30 June 2009. This represents the highest ever quarterly net profit recorded by the airline.
This profit offsets Malaysia Airline’s RM695 million net losses in Q109, leading to a first half net profit of RM181 million.
Due to the recovery of oil prices since 31st March 2009, Malaysia Airlines’ fuel hedging losses of RM640 million in Q109 has been reversed with a RM1.3 billion gain in Q209.
Since the beginning of the year, the airline has implemented aggressive sales campaigns to deal with the worst crisis facing the industry. It has successfully increased its load factors to 66% in Q209, a double digit growth of 10% compared to 56% in Q109.
“We are managing well in this crisis. While the operating environment remains tough, the load factors have increased due to our aggressive strategies to boost sales. On the domestic front, more passengers are travelling with us.
“On the international routes, we have performed better than the industry average as we are less dependent on the front end,”
Managing Director Chief Executive Officer, Dato’ Sri Idris Jala
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