June 22, 2012
Malaysia Airlines has tweaked its business turnaround plan and delayed its target to return to profitability by another year to 2014, according to a report in The Edge Financial Daily.
The report quotes managing director and chief executive Ahmad Jauhari Yahya, who also hints at the possibility of layoffs.
Jauhari said the new plan followed events which occurred over the past six months, including the reversal of the share swap between Khazanah Nasional and Tune Air, the MYR 2.5 billion ringgit (USD$787.03 billion) losses MAS posted for financial year 2011, and the scrapping of a new regional premium airline.
