MAHB to gain from MAS<\/p>\n
KUALA LUMPUR (Reuters): Malaysia Airports Holdings Bhd (MAHB)
\nsaid on Thursday it would gain from an expected turnaround at
\nnational carrier Malaysian Airline System (MAS) and a tie-up with
\nDutch airport operator Schiphol International BV.<\/p>\n
\"An expected turnaround of MAS will contribute positively
\ntowards MAHB's financial performance,\" executive director Adnan
\nShamsuddin said at a company briefing.<\/p>\n
Malaysia's biggest airport operator posted a net profit of
\n101.76 million ringgit (US$26.7 million) for the six months to
\nend-June, barely changed from 103.56 million in the same period a
\nyear ago.<\/p>\n
MAS unveiled in May a restructuring plan aimed at nursing the
\nailing carrier back to profitability by 2004.<\/p>\n
The airline is set to post its fifth successive year in the
\nred. For its first financial quarter to end-June, MAS reported a
\nnet loss of 413.8 million ringgit.<\/p>\n
Adnan said state-controlled MAHB would also benefit from its
\nstrategic alliance with Schiphol.<\/p>\n
The Malaysian government announced last month that it had
\nsigned a preliminary agreement to sell a 30 percent stake in MAHB
\nto Schiphol.<\/p>\n
\"We hope to capitalize on their experience and turn KLIA into
\na major airport,\" Adnan said, referring to the new but under-
\nutilized Kuala Lumpur International Airport.<\/p>\n
Schiphol is Europe's fourth busiest airport.<\/p>\n
The ultra-modern KLIA has been hit by a spate of pull-outs by
\nforeign carriers since it opened its doors in June 1998.<\/p>\n
Adnan said MAHB was also reviewing its non-core businesses,
\nbut he did not elaborate.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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