Malaysia Airlines returns to profit

Malaysia Airlines returns to profit

Malaysia Airlines has returned to profit during the third quarter of financial 2010, as revenues sharply increase.

For the three months to September 30th the airline reported a net profit of RM233 million, as revenue increased by 15 per cent.

The national carrier reported a RM123 million operating profit, rebounding from an operating loss of RM77 million in the third quarter of last year.

Announcing the results Malaysia Airlines managing director, Tengku Azmil Zahruddin, said the airline is positioning itself for profitable growth by taking delivery of new aircraft in 2011.

“We are in a challenging and unpredictable industry and have to be mindful of the many things - economic fluctuations, rising fuel prices, even volcanic eruptions - that can quickly have an impact on our business,” Mr Azmil added.

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Malaysia Airlines confirmed an order of up to 25 A330-300 widebody aircraft from European manufacturer Airbus in March this year.

The aircraft will be delivered from 2011 to 2016 and will serve the growing markets of South Asia, China, North Asia, Australia and Middle East.

In addition, the airline took delivery of two new B737-800 aircraft earlier this month and will have one more aircraft by end 2010.

Funding for all incoming aircraft in 2011 has also been lined up.