Malaysia Airlines record soaring profits

first_imgSource = e-Travel Blackboard: P.T Malaysia Airlines have bounced back in the third quarter of 2010 to post a net profit of RM233 million; a significant improvement on last year’s figures. The airline recorded third quarter losses of RM77 million during the third quarter of 2009, while at the close of 30 September 2010, reported profits of RM123 million. Managing Director and CEO, Azmil Zahruddin was decisively pleased with the recent results. “We are delighted to be returning to profitability this quarter with both passenger and cargo segments performing well,” he said. Mr. Zahruddin is looking forward to future propriety for the Malaysian national carrier. “Moving forward to 2011, we are positioning ourselves for profitable growth by taking delivery of new aircraft, identifying new growth areas and maximising revenues through aggressive sales and marketing,” he added. Malaysian Airlines also recorded its highest seat factor in 15 years. “Amidst a tough operating environment, we have managed to increase passenger load factors and yield. This is due to aggressive domestic and global sales campaigns, competitive pricing coupled with the economic recovery in Asia Pacific,” said Mr. Zahruddin. In related news, Firefly, a wholly-owned subsidiary of Malaysian Airlines, recently announced it would be launching operations out of Kuala Lumpur International Airport, targeting the ‘value’ demographic and establishing clear market segmentation between the two carriers. last_img