Malaysia Airlines And Malaysia Aviation Group Show Continued Progress Over Q2 2016

Published on : Friday, September 9, 2016

malaysia-airlinesMalaysia Airlines Berhad (“MAB”) today announced its latest quarterly update, in line with its commitment to good corporate governance and transparency.

 

 

 
In a seasonally weaker quarter, MAB continued to show steady progress on the turnaround plan costs remained a central focus with the airline delivering ahead of budget. On-time-performance also remained stable amidst external challenges and the airline’s customer service index continued to recover as product improvements were introduced in the quarter.

Malaysia Aviation Group’s Chief Executive Officer Peter Bellew said “Malaysia Airlines made continued progress in what is traditionally our weakest quarter. Competition both domestically and globally remains intense and I expect it will intensify in the second half of the year. The focus so far has been on managing costs and continuing the product improvements in food, on time performance and new business class seats.

In the second half of 2016 we are working hard on revenue generation with more aggressive marketing and sales initiatives whilst maintaining strict cost discipline. We need to move quickly to maximise revenues and I am confident with the steady progress seen that we will succeed.”

Actual
Q1 2016
Actual
Q2 2016
Passengers (m) 3.2 3.3
ASK (m) 10,930.8 10,351.2
Passenger Load Factor (%) 68.9% 68.6%
Passenger Yield (sen) 22.6 22.5
On-Time Performance (%) 83% 82%

Q2 performance
As expected, the second quarter was weaker due to seasonality with revenue down quarterly due to soft demand during Ramadan. Overall, the airline and the Group are expected to record a loss for this fiscal year but management remain confident that both will meet and potentially surpass targets based on the traction gained in the turnaround efforts thus far.

Whilst overall load factor was weaker, domestic travel loads improved.

The airline and Group continued to make progress on cost reduction which will remain a key focus.

Equally, the renegotiation of contracts and consolidation of suppliers will continue across the board. The airline’s fuel conservation programme also saw continued success with further reduction in consumption in the quarter.

Source:- Dubai Airport

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