TROUBLED flag carrier Malaysia Airlines Bhd’s (MAB) revenue dropped 94% since flight restrictions kicked in globally due to the Covid-19 crisis, reported Malay-language news publication Berita Harian (BH).
Quoting MAB group CEO Captain Izham Ismail, BH yesterday wrote that MAB had taken drastic measures including offering no-pay leave to staff as well as slashing salaries of highly paid executives. But he did not provide a quantum as to how badly the flag carrier’s financial performance was affected.
Izham was quoted as saying that such measures had to be implemented to protect MAB’s cash flow as well as prevent low-salaried staff from being laid off.
He was also bearish in his near-term outlook for the company, saying that travel demand is not expected to rise soon. To meet such challenges, MAB would undertake a minimal flight network, Izham added.
Meanwhile, MAB would continue operating limited flights to Sabah and Sarawak while other domestic services across Peninsular Malaysia would be supported by MAB subsidiary Firefly, Izham said.
And, at the international level, MAB would continue to undertake rescue and deportation flights, he added. – April 21, 2020
