Malaysia Airlines reported an unaudited net loss of RM1.28 billion for the fourth quarter ended 31 December 2011, bringing the Group’s full year results to a net loss of RM2.52 billion for the financial year ended 31 December 2011 on the back of a marginal increase in Group revenue (up 2% to RM13.90 billion) and carrying 1.3 million more passengers (totalling 17 million) compared to the previous year.
“The bottom-line Group losses for 2011 underscore the imperative need for Malaysia Airlines to immediately adopt strong measures to stop the bleeding. These include staff redeployment, increasing productivity and efficiency, relentless cost control and making further route reviews. We are also implementing an aggressive sales & marketing strategy”, said Ahmad Jauhari Yahya, Malaysia Airlines Group Chief Executive Officer.
Source:- travelandtourworld.com
