Malaysia airlines: 2Q losses shrank 34%

Malaysia Airlines has said its net loss in the quarter through June shrank 34 % from a year earlier, thanks to pricing and revenue management and lower fuel costs. The flag carrier said the loss narrowed to 349.25 million ringgit ($112.1 million), compared with 526.68 million ringgit ($169 million) in the same period a year ago. It was the sixth straight quarterly loss for the airline, reported Malaysian Bernama news agency Tuesday. It addedd that revenue dropped 5 % to 3.3 billion ringgit ($1.1 billion) after it cut several loss-making and low-yielding routes. The airline further said that its operating loss declined 77 % from a year ago to 102 million ringgit ($33 million), but it suffered a foreign exchange loss of 173 million ringgit ($55.5 million) in the quarter.