Malaysia Airlines (MAS) recorded its highest passenger yield at 23.6 sen for 2017, despite overcapacity. The airline said that it expects supply and capacity pressure to continue to put a stress on yields although the effect should be moderate this year.
Exhibiting an encouraging trend of year-on-year (YoY) yield improvement despite overcapacity for both international and domestic sectors, the airline aims to continue focusing on driving passenger yield improvement this year by growing its premium passenger segments such as large and small corporations.
The airline has been taking various measures to improve the on-board experience. To begin with, its new in-flight entertainment systems aboard its flagship A350 aircraft, which includes refreshed first and business class amenity pouches as well as new pyjamas set for first class passengers.
Temptations, its in-flight shopping, was relaunched and is available online for pre-order or home delivery. The domestic and regional lounge at Kuala Lumpur International Airport reopened its doors in the fourth quarter of last year to include a live cooking station and reflects the Baba Nyonya heritage.
Malaysia Airlines Group (MAG) Chief Executive Officer Izham Ismail (GCEO), “Malaysia Airlines is firmly anchored to the MAS Recovery Plan (MRP) and I am happy to see steady progress continue in the fourth quarter. A concerted focus on yield in the second half of the year has seen an overall improvement in yield and RASK bucking the general downward trend of other regional players.”
Having said that, the airline did underperform against budget compared to the previous year. This was due to a weaker first half impacted by a weak pricing strategy as well as the hike in exchange rates and fuel. The airline made recovery in the second half with closer oversight on yield management and ended the year in a stronger position.
Its highest quarterly revenue for 2017 was made during the fourth quarter. The actual figure, however, was not disclosed.
“Southeast Asia has strong traffic growth, but overcapacity remains a challenge, pressuring yields. Malaysia Airlines maintains its cautious outlook in the fiscal year of 2018,” said a MAG statement.
Last week the airline had announced its plans to reorganize its corporate structure as well as restructure to strengthen operations as part of its five-year Malaysia Airlines Recovery Plan. The airline also announced its plans to rebrand itself by having a distinctive product and service delivery, while retaining existing brands and logos.
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