KUALA LUMPUR: Malaysia Airlines Bhd (MAS) expects to start turning in a profit by 2018, said Prime Minister Datuk Seri Najib Tun Razak (pic).
MAS had also managed to achieve an on-time performance rate of 95% for domestic flight take-offs and landings, he said.
“Based on the commitment and focus of various strategies identified and executed under the MAS Recovery Plan (PPM), MAS should show an even more improved performance by then,” Najib, also Finance Minister, said in Parliament in reply to a question from Datuk Mohd Fasiah Mohd Fakeh (BN-Sabak Bernam).
The PPM was announced by Khazanah Nasional on Aug 29, 2014, and focuses on 12 main areas including administration and finance, and business operations models.
Najib said that since Sept 1, 2015, MAS had recorded positive progress in line with the goals of the PPM, and that it would continue to concentrate on initiatives for the company’s restructuring and recovery.
“Among these initiatives are stopping non-profitable routes and strategic cooperation with Emirates Airlines via code sharing. This latter initiative allows access to the wider Emirates network of routes, which includes North and South America and Africa,” he said.
Starting August 2016, Business Class seats on A330-300 Airbus aircraft would offer fully-reclining seats as part of the renewal of service, he added.