Subscribe Login
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Business Bites
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Business Bites
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
  • Home
  • News
    • International News
  • Latest
  • Business
    • Business Bites
  • Cartoon
  • Games
  • Food Awards
  • Health
  • Entertainment
    • Bookends
  • Regional
  • Sports
    • Sports
    • World Cup
    • World Champs
    • Olympics
  • All Woman
  • Career & Education
  • Environment
  • Webinars
  • More
    • Football
    • Elections
    • Letters
    • Advertorial
    • Columns
    • Editorial
    • Supplements
  • Epaper
  • Classifieds
  • Design Week
Business, Financials
November 27, 2012

Malaysia Airlines back in black

KUALA LUMPUR, Malaysia — STRUGGLING flag carrier Malaysia Airlines said that it has swung back to a profit yesterday, after six straight quarterly losses as the slashing of unprofitable routes helped cut costs.

The airline recorded a 37.08-million ringgit ($1.1 billion) net profit for its third quarter ending September 30, compared to a 477.6-million loss in the same period a year earlier, it said.

“We are very encouraged by the improved trend in our financial performance in this third quarter especially after six quarters of loss,” chief executive Ahmad Jauhari Yahya said in a statement.

“Our focus remains to increase revenue and manage our costs… Although the journey ahead is long, with focus, we will succeed.”

The improvement in the airline’s bottom line “was mainly due to the route rationalisation programme”, which resulted in a nine per cent decrease in fuel costs and a seven per cent drop in non-fuel costs, the carrier said.

Lower fuel costs also helped, it said.

The airline has battled for years to stay in the black, with analysts blaming a combination of stiff competition, poor management, change-resistant unions, government interference and other factors.

Earlier this year, it reported a full-year 2011 loss of 2.5 billion ringgit and in June announced it was pushing back a planned 2013 return to profitability after a tie-up with rival budget carrier AirAsia crumbled.

Amid the gloom, the airline embarked on a cost-cutting campaign centred on slashing routes, including to Rome, Johannesburg, Cape Town, Buenos Aires, Karachi and Dubai.

Malaysia Airlines said the cost-cutting moves caused revenue to shrink only two per cent to 3.5 billion ringgit.

Ahmad Jauhari said the airline continued to face challenges including the global economic woes and their affect on air travel, increased competition and high fuel costs.

The airline was still in the red for the first nine months of the year, with a net loss of 484 million ringgit, down from 1.25 billion for the same period a year earlier, it said.

Earlier this year, a tie-up with profitable AirAsia fell apart due to resistance by unions representing Malaysia Airlines.

{"website":"website"}{"jamaica-observer":"Jamaica Observer"}
img img
0 Comments · Make a comment

ALSO ON JAMAICA OBSERVER

Liverpool sack Slot after disastrous Premier League title defence
Latest News, Sports
Liverpool sack Slot after disastrous Premier League title defence
May 30, 2026
LONDON, United Kingdom (AFP) -- Liverpool sacked manager Arne Slot on Saturday, saying the club were seeking a "change of direction", after a disastro...
{"jamaica-observer":"Jamaica Observer"}
Glittering Osaka edges Jovic to prolong French Open run
Latest News, Sports
Glittering Osaka edges Jovic to prolong French Open run
May 30, 2026
PARIS, France (AFP) -- Naomi Osaka continued to shine in the City of Light as she beat American teenager Iva Jovic 7-6 (7/5), 6-7 (3/7), 6-4, in the F...
{"jamaica-observer":"Jamaica Observer"}
Police impose 48-hour curfew in four St Mary communities amid crime spike
Latest News, News
Police impose 48-hour curfew in four St Mary communities amid crime spike
May 29, 2026
ST MARY – Four St Mary communities have been placed under 48-hour curfews starting Friday, May 29 as police move to de-escalate tensions and contain a...
{"jamaica-observer":"Jamaica Observer"}
Designer Kadianne Nicely to stage first luxury fashion experience in Kingston
Latest News, Lifestyle
Designer Kadianne Nicely to stage first luxury fashion experience in Kingston
May 29, 2026
Kingston, Jamaica — International designer and model Kadianne Nicely is set to transform the local fashion landscape with the staging of her highly an...
{"jamaica-observer":"Jamaica Observer"}
‘Decided on moments’: PSG, Arsenal in knife-edge Champions League final
Latest News, Sports
‘Decided on moments’: PSG, Arsenal in knife-edge Champions League final
May 29, 2026
BUDAPEST, Hungary (AFP) -- It is said that opposites attract and Paris Saint-Germain's irresistible attack propelled them into Saturday's intriguing C...
{"jamaica-observer":"Jamaica Observer"}
Latest News, News, Videos
WATCH: Manchester police recover stolen items, public urged to make contact
May 29, 2026
MANCHESTER, Jamaica — Police in Manchester are asking members of the public who have been robbed of their belongings to identify stolen items at the M...
{"jamaica-observer":"Jamaica Observer"}
Sexual assault survivor champions national trauma healing effort
Latest News, News
Sexual assault survivor champions national trauma healing effort
May 29, 2026
At age three, Shanecia Stewart became sexual prey — a breach of trust by ‘Finger’, her neighbour from the tenement yard where she lived with her paren...
{"jamaica-observer":"Jamaica Observer"}
WATCH: ‘I will be by his side’ says spouse as burn victim airlifted to US for treatment
Latest News, News, Videos
WATCH: ‘I will be by his side’ says spouse as burn victim airlifted to US for treatment
May 29, 2026
KINGSTON, Jamaica -- A third victim of the explosion on South Camp Road earlier this week has been airlifted overseas, accompanied by his spouse, who ...
{"jamaica-observer":"Jamaica Observer"}
❮ ❯

Polls

HOUSE RULES

  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy

Recent Posts

Archives

Facebook
Twitter
Instagram
Tweets

Polls

Recent Posts

Archives

Logo Jamaica Observer
Breaking news from the premier Jamaican newspaper, the Jamaica Observer. Follow Jamaican news online for free and stay informed on what's happening in the Caribbean
Featured Tags
  • Editorial
  • Columns
  • Health
  • Auto
  • Business
  • Letters
  • Page2
  • Football
Categories
  • Business
  • Politics
  • Entertainment
  • Page2
  • Business
  • Politics
  • Entertainment
  • Page2
Ads
img
Jamaica Observer, © All Rights Reserved
  • Home
  • Contact Us
  • RSS Feeds
  • Feedback
  • Privacy Policy
  • Editorial Code of Conduct