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MAS To Return To Profit By 2014?

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Thursday, 21 June 2012
* Malaysian Airlines CEO Ahmad Jauri says MAS will return to profit by 2014; says Airline got good support from shareholders for business plan at today's annual meeting

* CEO: Still has big challenges ahead

* To focus on boosting revenue

* Won't cut capacity


* Blue Phoenix Financials: The global airline industry has become increasingly competitive on the back of customers who know what they want. Air Asia has done well in the budget category and Cathay Pacific has done well with Chinese travellers while Singapore Àirlines has lost out to Qatar and Emirates in the premium travel segment. Malaysian Airlines has been nowhere. MAS has dropped 12% this year and posted a loss of $171.8 billion ringgit in the three months ended March 31 and is expected by analysts to report an annual loss of 529 million ringgit. It issued 1 billion ringgit of Islamic bonds this month that didn't have a set maturity. MAS has 4.50 billion ringgit of bonds and loans including the sukuk it sold this month. In our opinion, it would be extremely difficult for MAS to show a profit as early as 2014.

The airline, which earlier planned to own new planes, has
now turned to the Malaysian government to purchase the A380s and two A330s worth 5.3 billion ringgit ($1.7 billion).

Air Asia, which recemtly unwound its share swap with MAS recently, has signed an agreement with Japan's ANA to fly from Tokyo to regional Japanese cities as well as China and Korea. The airline has proposed a dividend policy which is awaiting shareholder approval and has arranged an IPO for its Thai unit and is planning an IPO for its Indonesian unit in March 2013. CEO Tony Fernandez has been replaced by Aireen Omar. Tony Fernandez will be working In Indonesia for Asia Asia. Last quarter, AirAsia reported a record profit of RM$1.17 billion ($367 million)

Singapore Airlines, to counter competition from Air Asia in the budget segment introduced Scoot Airlines this month which will fly to regional destinations including Tokyo, Australia and China. SIA still has a healthy cash hoard of $3.4 billion and is trying to make a comeback using a smorgasboard of strategies


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Malaysia Airlines A380 First Landing at KLIA (30th May 2012).MTS

Added Date:
21 June 2012
Length:
04:25

Malaysia Airlines A380 First Landing at KLIA on the 30th May 2012. This was a historical moment for the airlines as this is the 1st of the six planes ordered. The A380 landed about 3.45pm that day and taxied to Hanger 6 at KLIA. More pictures and store here: http:blog.malaysia-asia.my201205malaysia-airlines-a380-plane-first.html