Malaysia Airlines Berhad (MAB) reported a net loss of MYR791.7 million ($190.5 million) for 2018, narrowed from a MYR812.1 million loss in the previous year.

Revenue was up 0.8% year-over-year to MYR8.74 billion, the flag carrier reported in the delayed financial results. 

CEO Izham Ismail said in March that 2018 saw “intense competition, with supply outstripping demand, as well as volatility in fuel and foreign exchange.” 

Worsening conditions had derailed the airline’s turnaround plans, Izham told ATW in June, but the flag carrier will continue to look to improve revenue through measures such as “deeper collaboration with partners,” most recently a codeshare agreement with British Airways.

MAB’s total assets slid from MYR5.78 billion to MYR5.12 billion, with liabilities increasing 15.7% to MYR5.9 billion.  

Meanwhile, MAB has announced that it will increase the frequency of its Kuala Lumpur to Beijing flights from seven to 10 weekly, beginning Jan. 1, 2020. MAB sees China as one if its growth areas, and in a statement said it is committed to growing connectivity into China through direct flights or via partnerships with Chinese carriers.

Chen Chuanren, chuanren@purplelightvisuals.com