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November 19, 2007

MALAYSIA : Aviation
Malaysia Airlines to buy new aircraft: report

State-owned Malaysia Airlines, which has been in the red since the Asian financial crisis a decade ago, will unveil a plan in January to buy new planes, a report said on Sunday.
"We want to provide five-star services at low-cost carrier cost," managing director Idris Jala was quoted as saying by the New Sunday Times newspaper.
He said the carrier would purchase new aircraft to beef up its existing fleet of 89 planes but did not give specifics.
""We are in the midst of finalising our requirement for both narrow and wide-body aircraft. We have received bids from Boeing and Airbus," he said.

Malaysia Airlines had placed an order for the delivery of six Airbus A380 superjumbos but delivery has ben delayed because of production problems.
The carrier launched a four billion ringgit (1.1 billion dollars) turnaround plan in March last year after it posted a 1.3 billion ringgit annual loss for 2005.
"We are on schedule, we are strongly aspiring to achieve record profits this year," he said. The carrier posted a net loss of 136 million ringgit for 2006.

Courtesy AFP 

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