Malaysia Airlines posts Q4 loss, sees tough times ahead

KUALA LUMPUR, Malaysia — Malaysia Airlines has posted its fourth straight quarterly loss and raised its full-year loss nearly threefold from a year ago, and it is warning of tougher times ahead.

The flag carrier recorded a net loss of 343 million ringgit ($104 million) for the three months through December, compared with a 51.4 million profit a year ago. It blames a declining Malaysian ringgit, unrealized foreign exchange losses and higher operating and finance costs.

For the full year, losses ballooned to 1.17 billion ringgit, nearly threefold from a 433 million ringgit loss in 2012.

The airline said Tuesday that the business environment will remain challenging this year because of high fuel prices, volatile foreign exchange and intense competition.