Profit for Malaysia Air

Malaysia Airlines announced last week it had made a profit in February for the first time in years.

Chief executive Christoph Mueller hailed the news and confirmed the company was on course to break even in 2018.

Talking to news agency Associated Press, he said: "For a company that lost 2bn ringgit (about £181m) just last year, if you are able to break even for a month or so, it means the financial gap between revenue and cost has significantly closed, and that is good news that tells us that we are on the right trajectory.”.

The disappearance of Flight MH370 and shooting down of MH17 over the Ukraine in 2014 almost crippled the loss-making airline and triggered a major shake-up including trimming the network and cutting jobs.

Mueller said it was the company’s ambition now “to grow again when we can afford growth. If you grow as a loss-making airline, you just increase the losses." Revenue had improved and operating costs were down, thanks to low fuel prices and reduced labour costs.

The carrier axed all long-haul routes to Europe except for London as part of its cost-cutting measures, with the focus currently on short- and medium-haul routes in Asia.  www.malaysiaairlines.com

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