Beleaguered national carrier Malaysia Airlines (MAS) says first quarter net loss widened to RM443 million from a net loss of RM278.8 million a year ago.
Revenue increased to RM3.6 billion, up from RM3.5 billion in the same corresponding quarter.
MAS needs a massive restructuring to turn itself around fast: the 67-year-old airline has bled RM4.25 billion in losses over the last three years, hammered by high operating costs and stiff competition.
Via Bursa Malaysia
MAS shares closed ahead of today’s announcement at 21 sen. Its share price has tanked over the past year, slumping further following the disappearance of flight MH370.
More to come…