Thursday, February 26, 2009

Idris Jala barely pass the test

Idris Jala or rather Malaysia Airlines (MAS) has barely pass the test in the financial report card submitted to Bursa Malaysia. MAS make fewer millions for last year.

Malaysia Airline System Bhd (MAS), despite the challenging times that has seen a number of airlines going bust, has posted a net profit of RM46 million for the quarter ended December 31, 2008 (Q4).

Profit was 81% lower than the same quarter in 2007 due to the challenging environment compounded by volatile oil prices and slowing demand.

Revenue came in at RM3.70 billion.

For the corresponding period, it had reported a net profit of RM241.92 million on the back of RM4.07 billion in revenue.

The company reported Thursday that Q4’s profit was the tenth quarter of profits for the airline after it instituted changes backed by dynamic pricing, managing costs and innovation.

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* Moment of truth for Idris Jala

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