Malaysia Airlines disclosed that its RASK rose 2% year-on-year during the quarter ended 30 September, despite strong competition and adverse currency movements.
The airline states that load factor during the quarter was steady at 77.5%, while passenger revenue increased by 3.5%. No figure for revenue was provided, nor were any other financial metrics included in its disclosure.
Malaysia Airlines group chief executive Izham Ismail says the airline is seeing some progress on its turnaround plan, but still faces a number of challenges ahead.
“Moving forward, we will be renewing focus on yield with clearer customer segmentation and improved revenue management practice. Revenue is improving but we need to step this up to address rising costs from fuel and forex volatility,” he adds.
The airline estimates that it has cut costs by about MYR96 million ($23.5 million) over the year, and adds that cost control is a major priority due to the volatility of the Malaysian ringgit.
Despite the market challenges, the carrier has moved ahead with its network expansion plans, having launched services to Chongqing and Surabaya during the quarter.
It is also on-track to take delivery of the first of six Airbus A330-200s it is leasing from AerCap in early 2018. Those aircraft will replace six Boeing 737-800s that are leaving the fleet, allowing it to upgauge capacity on high-demand routes.
The Oneworld carrier also confirmed that it will launch A350-900 services on the Kuala Lumpur-London route on 15 January, having taken delivery of its first of the type in November.