Malaysia Airlines states it has survived the most difficult part of its economic turnaround
Malaysia Airlines believes it has survived the most difficult part of its economic turnaround, due to cost cutting exercises (4Hoteliers, 20-Oct-2009). The carrier now plans to expand its codeshare agreements, develop alliances and improve yield.
Malaysia Airlines: " We were in crisis in 2006. At that rate, we were burning our cash fast, and if we did nothing, we'd have gone bankrupt in 2006. When we did the turnaround, our focus was on cost – even though we spoke to one airline at the time in Europe, who said that revenue was key. We are lucky that we have become ready to turn around the airline in 2009…In any crisis, there is always opportunity. But if I'm an investor, I would not invest in airlines. It's very sexy, but you can easily lose business." Dr Amin Khan, Senior General Manager, Network and Revenue Management. Source: 4Hoteliers, 20-Oct-2009.