MAS EXPECTS TO BE IN THE BLACK IN Q1 NEXT YEAR
Airline making good progress in its restructuring plan, says CEO
MALAYSIA Airlines Bhd (MAS) is expected to be back in the black in the first quarter of next year, despite tough market conditions and stiff competition.
Chief executive officer Captain Izham Ismail said MAS was seeing progress and gaining traction.
Its internal goal was to be profitable this year, he said.
“The MAS team knows my aspirations and I have asked them to work together in achieving our target this year... but the first quarter of 2019 (to start making profits) is more realistic,” he added.
Izham said this after witnessing the Training Cooperation Agreement signing ceremony between Malaysia Airlines Academy Bhd (MAB Academy) and the International Air Transport Association (IATA), here, yesterday.
MAB Academy is a training unit of Malaysia Aviation Group.
Under the MAS restructuring plan that began three years ago, various efforts have been undertaken and are ongoing.
The primary goal is to ensure that the national carrier returns to profitability.
On the agreement signed yesterday, MAB Academy and IATA will work together to strengthen the academy’s position as a regional aviation learning hub.
Through the collaboration, the academy will offer 10 IATA courses that are in line with regional requirements and legislation.
Izham said the partnership did not entail any profit sharing and was established via knowledge sharing contract.
Meanwhile, Izham said MAS took seriously a recent directive by Transport Minister Datuk Seri Liow Tiong Lai who had asked the national carrier to solve seating and toilet arrangements in the business class of its Airbus A350-900WXB.
This follows several complaints from passengers about uncomfortable seats and insufficient toilets in the business class.