Profitability in 2014 unlikely as MAS posts RM376m Q3 loss
Carrier's shares down 6% as analysts downgrade stock to 'sell'
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FOLLOWING unexpected losses in the third quarter, Malaysia Airlines (MAS) is not expected to return to profitability next year with continued pressure on yields.
The beleaguered national carrier yesterday was trading at around 32.5 sen, down nearly 6 per cent, after analysts downgraded the stock to "sell" with a fair value of 28 to 30 sen.
Despite initial optimism that it might eke out a profit because of growing passenger loads, MAS slumped to a disappointing RM376 million (S$147 million) net loss for the quarter ended September, with losses for the cumulative nine months swelling to RM830 million.
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