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  1. #1
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    Malaysian Airlines - Losses Worsen

    BBC News - Malaysia Airlines losses worsen on MH370 disappearance


    Malaysia Airlines chief executive Ahmad Jauhari Yahya has been under pressure to fix the company finances


    Malaysia Airlines has seen its losses deepen after Flight 370 vanished over two months ago, raising questions about the future of the 76-year-old carrier.

    The company's net loss rose by 59% to 443m ringgit ($138m; £82m) in the January-to-March period, marking its fifth straight quarter of losses.

    The firm attributed it to "tough operating conditions" and "negative sentiment".

    Investors shrugged off the news with shares rising 2.4%.

    Only 30% of the company is able to be bought freely on the stock exchange in Kuala Lumpur, with the rest held by state investment firm Khazanah Nasional.

    Of the 30% that trades on Malaysia's stock exchange, most of that is owned by the country's pension funds and other institutions, leaving a small proportion for retail investors to trade.

    Overall though, the firm has lost more than 40% of its market value this year.

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    The results were made worse with the impact on air travel in general following the disappearance of MH370”

    Ahmad Jauhari Yahya
    Chief executive, Malaysia Airlines
    Flight 370 went missing on 8 March while flying from Kuala Lumpur to Beijing, leading to a massive search and rescue operation that is still ongoing and may cost millions of dollars.

    The Malaysian government believes the plane ended its journey in the Indian Ocean, but no trace of the plane or wreckage has been found so far.

    The crisis led to a high number of cancellations and reputational damage to the carrier, including a 60% drop in sales from China.

    About two-thirds of the 239 people on board Flight 370 were from China, prompting boycotts by some travel agents on the Mainland.

    Malaysia Airlines chief executive Ahmad Jauhari Yahya said the disappearance of Flight 370 added to its poor results, which were "not unexpected".

    "The results were made worse with the impact on air travel in general following the disappearance of MH370. The whole market has reacted by slowing down demand," he said in a statement.

    The company "needs to accelerate efforts to improve its revenue stream and better manage our high costs which have increased" he added.

    "This need has become even more urgent for Malaysia Airlines' future survival and sustainability in a market that is not showing any signs of letting up on competition",

    Financial future
    A man stands at a memorial wall for MH370
    Most of the passengers on Malaysian Airlines Flight 370 were from China
    Malaysia Airlines has been struggling in the face of high fuel prices, foreign exchange fluctuations and increased competition from budget carriers in the region.

    "Further efforts need to be made to manage fuel costs which increased 14% despite a decrease in jet fuel price," the company said.

    Malaysia Airlines has racked up losses of more than $1.3bn over the last three years and analysts expect that to rise further.

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    The significant negative sentiment and increasingly competitive operating environment will likely further impair management's ability to "right the ship" anytime soon”

    Michael Beer
    Transport analyst, Citibank
    Malaysian Defense Minister Hishammuddin Hussein said at a news conference on Thursday that the government has no plans to financially bail out Malaysia Airlines.

    Malaysia Airlines said much of the costs associated with the disappearance of Flight 370 will be covered by insurance.

    However, the mounting red ink has increased speculation it may be forced to file for bankruptcy or possibly be broken up even though it is majority-owned by Malaysia's state investment firm

    Michael Beer, a transport analyst at Citibank remains neutral on the stock, but says a lot depends on the company's strategy.

    "The significant negative sentiment and increasingly competitive operating environment will likely further impair management's ability to "right the ship" anytime soon," he said.

    Despite the grim outlook, Malaysia's airline chief plans to continue with the company's turnaround effort.

    "We still have much work ahead of us to deal with the reality of the business and competition as a dynamic and nimble operation," he said.

    "MH370 has brought out the best of our Malaysia Airlines team to stand united to face the crisis. We will be leveraging on this team spirit to fight for our future."

  2. #2
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    Will they be having a sale?

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    Rong gang

    Air Asia is going to go upscale with KLIA2

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    ^ looks to me like an airline run by idiot bureaucrats.

    IME the customer facing problems with MH are so obvious it defies explanation that no action is taken to remedy things, except the fact they are clueless jungle monkey Bumis in charge (very Malaysian):

    - Failure to capitalize on capacity at KLIA to use as a regional hub
    - Poor value in premium cabins and very last decade hard product
    - Lack of competitiveness with Mid East carriers (many premium pax are ME)

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    Thailand Expat aging one's Avatar
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    Quote Originally Posted by david44
    Air Asia is going to go upscale with KLIA2
    Tony Fernandez is on record saying the new terminal in KL is horrible. He wanted and still wants to stay where he is. He knows he is a low cost airline and he only has a one year guarantee in the new terminal until fees start to rise.
    He noted the old terminal cost 9% as much as the new one to construct. Yet was servicing as many people as the new terminal is planned to do. Yes it was low cost. But you get what you pay for.

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    I've flown Malaysian a few times, they were good.

    I've flown Air Asia a few times too, I rate them as a decent low cost airline.

    I'd like to see them both keep going.

  7. #7
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    Quote Originally Posted by Bettyboo View Post
    I've flown Malaysian a few times, they were good.

    I've flown Air Asia a few times too, I rate them as a decent low cost airline.

    I'd like to see them both keep going.
    Air Asia is OK - you get what you pay for.

    MH - I flew business Istanbul/Kl and Paris/Kl six months ago and it was very poor value. The seat etc is at least 10 years out of date for J class and that was on a brand new A380. I found it incomprehensible that they buy new planes but use out of date seats. Food was atrocious too. Like bad wedding food. All bullshit recipes with crap ingredients

    Clueless.

  8. #8
    Mid
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    Quote Originally Posted by Lostandfound

    Malaysia Airlines has seen its losses deepen after Flight 370 vanished over two months ago, raising questions about the future of the 76-year-old carrier.
    Gee , never saw that coming , pity Ocker ain't around to tell me why I was wrong

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    Quote Originally Posted by Mid View Post
    Quote Originally Posted by Lostandfound

    Malaysia Airlines has seen its losses deepen after Flight 370 vanished over two months ago, raising questions about the future of the 76-year-old carrier.
    Gee , never saw that coming , pity Ocker ain't around to tell me why I was wrong
    Mid-Air intelligence

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    One an airline becomes associated with a highly publicised loss of life it is hard to survive. Pan Am, 1-2-Go, Malaysian ....

    There is a small travel agency on Phrom Phong BTS station with the old 1-2-Go logo above the door still. I have never once seen a customer in there.
    I see fish. They are everywhere. They don't know they are fish.

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    Quote Originally Posted by Thormaturge View Post
    One an airline becomes associated with a highly publicised loss of life it is hard to survive. Pan Am, 1-2-Go, Malaysian ....
    Ahem, KLM is still going strong yet it was a KLM pilot who was responsible for the Tenerife tragedy - confirmed by the American and Spanish investigators but not the Dutch who tried to 'whitewash' events.

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    Quote Originally Posted by Ronin View Post
    Quote Originally Posted by Thormaturge View Post
    One an airline becomes associated with a highly publicised loss of life it is hard to survive. Pan Am, 1-2-Go, Malaysian ....
    Ahem, KLM is still going strong yet it was a KLM pilot who was responsible for the Tenerife tragedy - confirmed by the American and Spanish investigators but not the Dutch who tried to 'whitewash' events.
    TWA? Swissair?

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    ^ I don't why you are referring to TWA the reason that folded was because of mis-management/economic reasons and as I recall had something of a bad safety record. Swissair still exists and has no more accidents than any other airline (only two of note in about 20 years that I can think of).

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    Quote Originally Posted by Ronin View Post
    Quote Originally Posted by Thormaturge View Post
    One an airline becomes associated with a highly publicised loss of life it is hard to survive. Pan Am, 1-2-Go, Malaysian ....
    Ahem, KLM is still going strong yet it was a KLM pilot who was responsible for the Tenerife tragedy - confirmed by the American and Spanish investigators but not the Dutch who tried to 'whitewash' events.
    You mean the merged Air France - KLM airline I presume, which still flies under two separate identities.

    Add Concorde to the list.

    Yes, as with Orient Thai there are still some people who will fly with them but a highly publicised loss inevitably leads to a loss of public confidence.

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    Quote Originally Posted by Thormaturge View Post
    One an airline becomes associated with a highly publicised loss of life it is hard to survive. Pan Am, 1-2-Go, Malaysian ....

    There is a small travel agency on Phrom Phong BTS station with the old 1-2-Go logo above the door still. I have never once seen a customer in there.

    You're probably right about One-two-go, but there is really no comparison between that joke of an airline and the great airline Pam Am once was.

    Sadly TIT and the not so great airline is still flying:

    Orient Thai Airlines - Wikipedia, the free encyclopedia
    "Orient Thai Airlines and its now-defunct wholly owned domestic carrier One-Two-GO Airlines are the only Thai airlines to bear a Royal Seal, made possible due to Udom’s close relationship with the King of Thailand based on Udom’s history of breaking traditional commercial barriers for Thailand.

    On September 2004, an Orient Thai 747 flew within 200 meters of Japan's Tokyo Tower over the heart of downtown Tokyo.[3]

    On July 22, 2008, shortly after the crash in Phuket which killed 89 people, and after the internet publication of illegally excessive work hours and check fraud Orient Thai and its subsidiaries were ordered to suspend service for 56 days due to failure to train, failure to have a safety program and failure to supervise safe flight, check ride fraud and breaking the law at Orient Thai and One-Two-GO.[4]"

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    Thailand Expat terry57's Avatar
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    Quote Originally Posted by Ronin View Post

    Ahem, KLM is still going strong yet it was a KLM pilot who was responsible for the Tenerife tragedy -.

    I don't think that a Airline can be held responsible for the loss of plane because of gross incompetence of a rouge pilot.

    Humans do strange things even top class pilots.

    The Tenerife incident was caused 100 % because of the pilots insistence to take of in zero visibility and without permission .

    If a plane goes down because of human error I would not be concerned flying with that Airline but if a plane goes down because of mechanical problems I would certainly not want to fly with them until the investigates had concluded why it went down.

    Hence why its so important to find 370 .
    I do not give Patsycat " The Horn " thank Fuk.

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    Thailand Expat terry57's Avatar
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    Quote Originally Posted by Lostandfound View Post

    Air Asia is OK - you get what you pay for.

    Actually I'd go a tad further than that and say Air Asia is sensational value for what one gets.

    Its really just a bus in the sky and pitches itself straight up no frills as a point to point carrier.

    Ive been flying with them since the get go and have taken maybe a hundred flights to multiple destinations all over Asia and back to Australia.

    Also have scored quite a few free flights and payed taxes only.

    The thing is to be flexible with ones times and pre book food, a seat and luggage on the net.

    Ive had many flights where I have payed less than what I pay for 20 KLM taxi ride in Perth.

    Air Asia also has many new A320 and A330 planes in there fleet . Never been an issue with there maintenance either.

    Amazes me when people complain about budget carriers.

    So punters want to fly budjet but expect all the frills.

    Complete fools this lot.

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    Quote Originally Posted by aging one View Post

    Tony Fernandez is on record saying the new terminal in KL is horrible. He wanted and still wants to stay where he is. He knows he is a low cost airline and he only has a one year guarantee in the new terminal until fees start to rise.


    Tony Fernadez is a genius business man.

    He knew his market from start up, stuck to his business plan and drove Air Asia into the stratosphere.

    Air Asia prospered from year one and has turned into a highly profitable business by offering very well priced flights aimed at the correct market .

    The trick in business is to keep the overheads down, every expense adds up resulting in the need to raise fares.

    Fernadez is a very smart guy, he does not want to do this hence KLIA2 is a nightmare for him.

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    Quote Originally Posted by BobR View Post
    You're probably right about One-two-go, but there is really no comparison between that joke of an airline and the great airline Pam Am once was.
    If the public see wreckage and dead bodies stewn over the ground some of them won't care what the cause was. Many won't even bother reading what the cause was. Hence people still fly with Orient Thai......

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    Quote Originally Posted by terry57 View Post
    Quote Originally Posted by aging one View Post

    Tony Fernandez is on record saying the new terminal in KL is horrible. He wanted and still wants to stay where he is. He knows he is a low cost airline and he only has a one year guarantee in the new terminal until fees start to rise.


    Tony Fernadez is a genius business man.

    He knew his market from start up, stuck to his business plan and drove Air Asia into the stratosphere.

    Air Asia prospered from year one and has turned into a highly profitable business by offering very well priced flights aimed at the correct market .

    The trick in business is to keep the overheads down, every expense adds up resulting in the need to raise fares.

    Fernadez is a very smart guy, he does not want to do this hence KLIA2 is a nightmare for him.
    3 excellent lucid posts Terry, are the bars locked in Bali or are a Mosque man these days? If you missed church parade Pint of Guiness a double shot of tequila and a Tabasco enema get you on the prowl again.

    I too have only good things to say about AA,clean efficient,have had faltbed to Perth and many short hops where as he said fares from Kl less than a cab between Perth terminals.
    Flights out of Thailand are boosted by 700 baht levy but ive had flights as low as $5 in other places.Pity about LK12 as somehow I feel we'll al end up funding the hole in Malaysian Airline ,ie Maly state finances that are result of MH730

    Hardly see even aconspiract post,seems the big bucks TV have given up,oddly only upside for Malaysia would be 10% proof it was not them

    e.g.
    Shot down ,I'm sure we'll never no who
    Boeing failure
    Some other cause eg hijacked which would still prevent me from flying MH again which is apity as their old Cairns troute was handy and while inferior to some good value and food seats better than BA jetstar and as good as Thai with handy free stop overs in KL.

    I guess like here the free flyers unions loss of face wont let them close it however bad the numbers
    Dumpy Trump and Rumpy Pumpy, sic transit pax americana

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    P.S. remember at our age when leering at backpackerettes its only one dribble between being that amusing mature guy with the funny storeis,film star looks rs to being a drooling old pervert.Best not put your dentures on your psing pouch.
    This was great advice to me pass it on

    Have a good on

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    Quote Originally Posted by Thormaturge View Post

    You mean the merged Air France - KLM airline I presume, which still flies under two separate identities.
    I wasn't aware of that.


    Add Concorde to the list.
    That was an unforseen circumstance as many other incidents are or have been.

    Yes, as with Orient Thai there are still some people who will fly with them but a highly publicised loss inevitably leads to a loss of public confidence.
    To some degree but others have recovered or at least survived American Airlines has had some nasty accidents.

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    Quote Originally Posted by terry57 View Post

    I don't think that a Airline can be held responsible for the loss of plane because of gross incompetence of a rouge pilot.
    I am not so sure the pressure was on for him to maintain his legal amount of flying hours and get the plane back to where it should be within a certain time frame although I would have to re-watch the documentary for the details.

    I pretty much agree with everything else in your post.

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    I spent an Hour and and half waiting to get in to the Old Terminal last November, 2 planes Loads or Punters trying to get through 1 Radar machine at the same time .

    AA Is great value but, Im sitting in the Tune Hotel @KLIA2 at the very moment, much improvement and prices are still down down!

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    I've had a lot of respect for Malaysian Airlines over the years. They were not afraid of flying long routes over water - KL - JHB - CTN - South America - same plane - then immediate return.

    MAS370 was a shame. If they'd only paid a little extra for 'almost live' satellite communications, things may have been different. Sad, it is.

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