Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
MAS
MASkargo sees 16% improvement in yield
Malaysia Airlines has ridden the economic updraft and returned to profitability in the first quarter, with increased cargo volumes and passengers, along with compensation from Airbus over delivery delays of its A380 superjumbos. The carrier announced its January-March net profit of RM310 million (US$97 million) , an improvement of more than RM1 billion from a loss a year earlier. Revenue surged 21 per cent to RM3.3 billion, including some RM329 million in compensation it received from Airbus. … [Read more...] about MASkargo sees 16% improvement in yield
MAS faces Australian price fixing charges
The Australian Competition and Consumer Commission (ACCC) has instituted proceedings in the Federal Court against Malaysia Airlines and its wholly-owned cargo subsidiary MASkargo. Malaysia Airlines is the 13th carrier to be investigated in ACCC proceedings for alleged price fixing in the air cargo industry. The ACCC alleges that between 2001 and 2006, the carrier and its cargo arm entered into arrangements or understandings with other international cargo airlines that had the purpose or effect … [Read more...] about MAS faces Australian price fixing charges
Malaysia Airlines (MAS)
Malaysia Airlines (MAS) said it plans to acquire the engineering and maintenance unit of Transmile Group for an undisclosed sum, Dow Jones reported. The national carrier said that its wholly owned engineering unit Malaysian Aerospace Engineering, or MAE, had signed an agreement to purchase the Malaysian cargo carrier’s base maintenance and engineering operation, including two hangars and related equipment at its Kuala Lumpur Subang Airport base. … [Read more...] about Malaysia Airlines (MAS)
Malaysia Airlines (MAS)
Nine years after launching thrice weekly flights from Kuala Lumpur to Newark Airport via Stockholm, Malaysia Airlines (MAS) surprised many by announcing that it was suspending flights to New York due to what it said was low demand. The last flight to New York from Kuala Lumpur will be on 30 September while the last flight from New York will be on 1 October and on 2 October from Stockholm. MAS said it hopes to return to New York once demand picks up. … [Read more...] about Malaysia Airlines (MAS)
Air France joins SIA, MAS withdrawl from Chennai
Chennai is seeing a contraction of services as Air France has advised the Airports Authority of India (AAI) that it would be withdrawing its three-times weekly service out of Chennai from end-March, joining Singapore Airlines and Malaysian Airlines who have already cut their daily services to Chennai. … [Read more...] about Air France joins SIA, MAS withdrawl from Chennai