Tuesday, February 13, 2007

MAS earnings beats internal targets

KUALA LUMPUR: Malaysia Airlines (MAS) said its fourth-quarter earnings beat internal targets after the company offered mutual separation schemes for 2,622 workers and withdrew some routes.

The national carrier has forecast a profit in 2007.

“We'll beat our fourth-quarter target,'' managing director Idris Jala said in a speech here yesterday.

MAS made a profit in the third quarter last year for the first time in five quarters.

Idris, who withdrew unprofitable international routes and revised fares, said in November he might raise the company's profit target for 2007 from RM50mil.

The airline expects profit to surge to a record in 2008.

“The turnaround is beginning to kick into our organisation,'' Idris said. “Last year was a very good year.''

MAS will release its fourth-quarter earnings on Feb 26.

Source : STAR
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