Malaysia Airlines posts 4Q loss, sees tough times
KUALA LUMPUR, Malaysia (AP) — Malaysia Airlines has posted its fourth straight quarterly loss and raised its full-year loss nearly three-fold from a year ago, and it is warning of tougher times ahead.
The flag carrier recorded a net loss of 343 million ringgit ($104 million) for the three months through December, compared to a 51.4 million profit a year ago. It blames a declining Malaysian ringgit, unrealized foreign exchange losses and higher operating and finance cost.
For the full year, losses ballooned to 1.17 billion ringgit, nearly three-fold from a 433 million ringgit loss in 2012.
The airline said Tuesday that the business environment will remain challenging this year due to high fuel prices, volatile foreign exchange and intense competition.