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Malaysia Airlines posts lower loss in 2018
Last Updated: 2019-03-02 10:10 | Xinhua
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Malaysia Airlines saw a challenging 2018 and finished the year on a marginally lower loss compared to a year ago, the company said Friday.

The company blamed several factors, including the crew shortages, intense competition with supply outstripping demand, as well as volatility in fuel and foreign exchange, for the continued loss.

Its chief executive officer Izham Ismail said in a statement that 2018 was extremely challenging with the airline hampered by intense competition and volatility in fuel and foreign exchange.

However, the national carrier has gained some traction in stabilizing operations and continue to be vigilant in managing revenue and cost, he said.

Notwithstanding the challenging operating environment, Revenue Average Seat per Kilometer saw a marginal increase of 2 percent year-on-year on the back of improved pricing segmentation.

In the same year, total revenue registered a 1 percent rise over the previous years performance whilst overall load factor was sustained at 78 percent.

The groups on-time performance also improved 2 percent year-on-year, with the highest monthly on-time performance registering at 83 percent. The improvement was due to better operational efficiencies in engineering and ground handling.

Fleet developments during the year included the introduction of six A350s and six A330-200 aircraft, according to the statement.

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