Malaysia Airlines turns around to make $73.8m profit

Malaysia Airlines has swung back to profitability for the third quarter ending 30 September 2010, posting a net profit of US$73.85 million, on the back of a 15 percent increase in revenue, reported Reuters.

The national carrier reported a $38.98 million operating profit, rebounding from an operating loss of $24.4 million a year ago.

The airline said its balance sheet remains healthy with cash and negotiable deposits of some $716 million as at 30 September 2010.

Managing director Azmil Zahruddin says that moving forward to 2011, the airline is positioning itself for profitable growth by taking delivery of new aircraft, identifying new growth areas and maximising revenues through aggressive sales and marketing.

The carrier took delivery of two new B737-800 aircraft earlier this month and will have one more aircraft by end 2010. Funding for all incoming aircraft in 2011 has also been lined up.
(Source:www.cargonewsasia.com)