Malaysian Airlines to see Profits by the 2014

Malaysian Airlines business turnaround plan has gained a momentum and thus it is hopeful in seeing profit at the end of the year. Malaysian Airlines reported on Wednesday that it will be in track by the end of the year after a second straight quarterly loss for the three months through June.

The net loss rose to 175.2 million ringgit ($53 million) was largely due to foreign exchange losses and was lower than a loss of 349 million ringgit ($106 million) in the same period last year. The further reports surmise that Operating revenue rose 12% to 3.6 billion ringgit ($1.1 billion).

CEO Ahmad Jauhari Yahya of Malasian Airlines said the company is on track to “build sustainable profit hopefully by the end of 2014.” Further he said that the airline have plans to purchase new planes as it will have to retire more than 40 old aircraft.