Malaysia Airlines to halve losses in 2018: CEO

    Malaysia Airlines Group CEO Izham Ismail said the airline expects to halve losses in 2018 compared to the MYR812 million (USD195.2 million) loss recorded in 2017, commenting: “That in itself is a turnaround” (New Straits Times, 21-Oct-2018). He said the airline’s turnaround programme was impacted by higher fuel prices, unfavourable foreign exchange rates and a shortage of pilots, which required network reductions. Mr Izham said: “2019 will continue to pose challenges in the marketplace, coupled with forex and fuel volatilities. We have to be nimble and fast. We can’t anticipate uncertainties, but we can put buffers around them”. He added: “Profitability turnaround is not an overnight task. It will take time”.