KUALA LUMPUR (May 30): Malaysia Airlines Bhd warned that a weaker ringgit against the US dollar impacts the company's costs as about 45% of its expenditure is denominated in US dollar. "We are cautious of potential downside scenarios and market fluidity and are taking steps to cushion the impact they may have on our businesses," Malaysia Airlines said in a statement in response to enquiries by theedgemarkets.com. theedgemarkets.com had earlier asked Malaysia Airlines about the net impact from the weaker ringgit against the US dollar on the company’s business. "All companies within the group have taken immediate steps to manage the impact of higher fuel cost. Malaysian sovereign wealth fund Khazanah Nasional Bhd owns Malaysia Airlines via MAG.

Source: The Edge Markets May 30, 2022 10:02 UTC