Malaysia Airlines says Q1 results impacted by higher fuel prices, adverse foreign exchange

PETALING JAYA: Malaysia Airlines, which is on track to be profitable in 2018, said its first-quarter (Q1) performance was affected by higher fuel prices and adverse foreign exchange.
However, it noted that passenger load factor remained robust for the first quarter of 2017 despite competitor fares dropping significantly.
The passengers carried increased 12.9% year-on-year (yoy) to 3.57 million for Q1 2017, with a load factor of 79.4% versus 68.9% last year. Yields were lower due to intense competition and a price war.
"Malaysia Airlines continues to see strong bookings with a 45% improvement in forward bookings for the next six months (from June to November 2017) compared with the same period in 2016," said group CEO Peter Bellew in a statement.