Malaysia’s Transmile Q2 net loss widens to M$13m

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Malaysian air freight firm Transmile has reported a wider net loss for its second quarter.

The company posted a net loss of ringgit (M$) 13.1 million ($4.4 million) for the three months to 30 June, compared with a net loss of M$6.3 million a year ago.

Revenues were 2.3% higher at M$54.1 million, compared with M$52.4 million in the preceding year's corresponding quarter.

The higher revenue was largely due to higher charter revenue and general freight sales achieved during the quarter, said Transmile.

Operating expenses for the quarter were M$50.8 million, up from M$47.8 million, mainly due to higher fuel prices. Aircraft fuel costs rose 39% to M$21.6 million, compared with M$15.5 million for the same quarter last year.