Malaysia Airlines in crisis, largest loss in history

Written by Your VIPTRIP Team on March 1st, 2012

1 March 2012

News reports state that Malaysia Airlines recorded a stunning net loss of RM2.52 billion for 2011 and the company is now in “crisis”, the national flag carrier said today.

The carrier also confirmed that the losses for the 2011 financial year were the largest in its history.

The airline reported a massive net loss of RM1.28 billion in the fourth quarter, which was about as much as the first three quarters combined.

“The company is in crisis,” said Malaysia Airlines (MAS) CEO Ahmad Jauhari Yahya in a statement.

Ahmad said that the losses were due to higher expenses including a 25 per cent increase in fuel expenses and a 50 per cent increase in non-fuel expenses.

Website Pin Facebook Twitter Myspace Friendfeed Technorati del.icio.us Digg Google StumbleUpon Premium Responsive

 

Comments are closed.