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Wednesday, February 29, 2012

MAS losses soar to RM2.5b


February 29, 2012
PETALING JAYA, Feb 29 — Malaysia Airlines recorded a stunning net loss of RM2.52 billion for 2011 due to high expenses, the national flag carrier said today.
The airline reported a massive net loss of RM1.28 billion in the fourth quarter, which was about as much as the first three quarters combined.
Malaysia Airlines CEO Ahmad Jauhari Yahya said that there was a 25 per cent increase in fuel expenses and a 50 per cent increase in non-fuel expenses.
“Obviously, this was a large loss,” said Ahmad.
MORE TO COME

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