Something to cheer about.
Ailing Malaysia Airlines (MAS) who is still in the process of recuperating, reporting a net profit of RM240.3mil (US$66.2 million) in the quarter ended Sept. 30, rebounding from a loss of RM366.4mil in the same period a year earlier, thanks to improved business conditions, cost-cutting measures and one-off gain of RM194mil (US$53.4 million) from the sale of properties and other payments.
(SOURCE: Malaysia Airlines Media Release, 28 November 2006)
"We have beaten our financial targets for the first, second and third quarters for both our passenger and cargo businesses," chief executive Idris Jala told reporters.
"The company has achieved more than 1 billion ringgit improvement to our bottom-line but we are cognizant of the fact that we are not out of the red yet."
Idris Jala is confident that he would be able to restore the airline back to profitability by 2008 with a net profit of RM500mil.
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Well done… by charging exorbitant rates…
well.. if the market is willing to pay the "exorbitant rates" and considering how competitive both international and domestic travel is from other international carriers and AirAsia respectively, i say if they can pull it off kudos to them.
One of the best news since UMNO gen assembly.