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Malaysia Airlines in new restructuring bid
07 December 2011
CEO says the airline would be bankrupt by the middle of next year with the present business model.
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MAS
Malaysia Airlines
restructuring
Malaysia Airlines (MAS) announced a new business plan today as the carrier looks to cut losses of RM1.247 billion ($399 million) in the first three quarters of the year.
The airline is targeting a loss of RM165 million in 2012 and hopes to return to profit by 2013.
MAS expects to improve results by shrinking its network, cutting fuel costs, and establishing a new premium regional airline. The new narrowbody-only carrier will operate new 737-800s delivering to MAS next year, and is...
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