Malaysian Airline System Bhd, which posted a third-quarter loss, expects fourth-quarter earnings to be weaker and said it will cut unprofitable routes and focus on higher-yielding destinations in Asia.
“With the adoption of a leaner network, management shall also be accelerating the return of ageing aircraft, and in so doing improve the fuel efficiency of our fleet,” the carrier said in a statement to the Kuala Lumpur stock exchange.
The stock fell to a six-week low in Kuala Lumpur trading after reporting a third-quarter loss of RM477.6 million.
Its shares dropped 1.5 percent to RM1.34 at 9:11 a.m local time, set for their lowest close since Oct. 10.
The stock has lost 36 percent this year. -- Bloomberg
“With the adoption of a leaner network, management shall also be accelerating the return of ageing aircraft, and in so doing improve the fuel efficiency of our fleet,” the carrier said in a statement to the Kuala Lumpur stock exchange.
The stock fell to a six-week low in Kuala Lumpur trading after reporting a third-quarter loss of RM477.6 million.
Its shares dropped 1.5 percent to RM1.34 at 9:11 a.m local time, set for their lowest close since Oct. 10.
The stock has lost 36 percent this year. -- Bloomberg
