Malaysia Airlines reports lower profit
AFP, Kuala Lumpur
Flag carrier Malaysia Airlines on Tuesday said net profit fell by 29 percent to 326.1 million ringgit (86 million dollars) for the year to March due to higher fuel prices despite record international traffic growth of 1.7 million passengers. The airlines managing director Ahmad Fuaad Dahalan said fuel cost rose to 3.8 billion ringgit from 2.3 billion previously due to higher fuel prices and network expansion. Malaysia Airlines last year posted a net profit of 461.1 million ringgit. "Taking into circumstances of a very difficult year, we think we have done reasonably well," he told reporters after announcing the results. Going forward, Ahmad Fuaad said Malaysia Airlines would continue its expansion drive. "We have not retarded any of our growth expansion. We are continuing to grow," he said. Ahmad Fuaad said Asia's fast growing economies -- China and India were part of the carrier's "grand design," and it would continue to find new routes to the two countries.
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