Business & Finance

Malaysian Airline Q3 net loss at 477.6mn rgt

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Revenue was 4.9 percent higher at 3.6 billion ringgit from a year earlier, it said in a stock exchange filing.

The airline said its fourth-quarter operational results would be worse than the third quarter as high fuel prices and a weak economic outlook in Europe hurt its business.

"Management is embarking on a significant network rationalisation exercise to withdraw structurally weak, lossmaking routes, and to possibly embark on new higher yielding routes focusing on Asia," it said in a statement.

"We expect the full impact of these initiatives to begin bearing fruit in 2012."

Copyright Reuters, 2011