Malaysia Airlines CFO forecasts recovery next year
Malaysia Airlines: “We are facing the worst crisis in our commercial flight history. Many airlines are registering losses at the operational level. This includes regional airlines like Singapore Airlines and Cathay Pacific. We are not immune from this. Like all the other airlines, we are facing huge challenges. We are doing everything we can to boost our revenue, conserve cash, and manage costs. We are on the right track in attracting passengers as our loads are up by more than 10% to 66% in 2Q2009. Our forward booking loads are up…We expect the economy to recover next year, and are looking forward to take delivery of our new B737-800 in late 2010 to capture the expected growth. We are reviewing aircraft requirements according to supply and demand, and realigning our capacity to tap into the growth in demand.” Tengku Azmil Zahruddin, Executive Director and CFO. Source: The Star Online, 15-Aug-09.