Tuesday, 28 June 2011
MAS proposes less fuel efficient cargo flight
malaysia Airlines (MAS) plans to reduce the load capacity of its flights on the third and fourth quarters of this year to reduce operating costs if the price of jet fuel continues to rise, said Managing Director and Chief executive officer Tengku Datuk Sri Azmil Zahruddin Raja Abdul Aziz said. "If we know note the tension in the Middle East and fuel prices go up, we may not increase flight capacity as before.
"One thing we will do is reduce a bit and could see more reduction in capacity in the third and fourth quarters of this year, compared to the second quarter.
"At current jet fuel prices, we can not increase flight capacity," he said after the annual general meeting (AGM), the national carrier in Kelana Jaya yesterday. 's first financial quarter and saw Airlines has increased its flight capacity by 11 percent compared to before. Tengku Azmil said, to reduce costs due to rising fuel prices, Malaysia Airlines hedge fuel prices jetnya 25 percent for this year, at U.S. $ 130. Meanwhile, the chairman Tan Sri Dr Munir Majid, who was asked in relation to a research note Maybank Investment Bank suggested that MAS be taken private, said they consider all the options and business as long as it benefits the group in the future. "What we can do is highlight the options available, but it is the right of shareholders to decide," he said. Khazanah Nasional Bhd is the largest shareholder controls about 69 per cent stake in MAS, while the Employees Provident Fund (EPF) was 11 percent. Maybank IB in a research note issued from the MAS proposed listing on Bursa Malaysia and instead consider a list of Firefly, MAS Engineering, MASkargo and well as terminal services. The research firm considers issuing from the list of Bursa Malaysia Airlines is not an unusual idea and instead enable MAS to get higher ratings when the intention was reinstated later. MAS recorded a net loss of RM242.339 million in the first financial quarter ended March 31 compared RM310.047 million net profit in the same quarter the previous year.