PETALING JAYA: Malaysia Airlines (MAS) expects to return to profitability in 2007 with a projected RM50mil net profit rising to an all-time high of RM500mil in 2008 under a recovery plan that was unveiled by its new managing director, Idris Jala.
The airline reported a net loss of RM1.26bil for financial year ended Dec 31, 2005, and expects to incur another loss of RM620mil this year if the actions outlined in the business turnaround plan are executed. But, if nothing is done to improve the “cash and profit crisis’’ at MAS, the airline is expected to lose RM1.7bil this year.
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