MAS plans fare hike, asset sale

MAS plans fare hike, asset sale

KUALA LUMPUR: Malaysia Airlines is planning to raise fares and sell assets as part of a strategy to turn the troubled national carrier around, a report said on Wednesday.

The Straits Times quoted Deputy Transport Minister Douglas Uggah Embas as saying that the price hike across all its routes will "be done carefully so as to remain competitive and attractive to travelers".

"The management is also looking at selling some of its assets but this will be done without affecting its operations," Embas said.

Other measures include reviewing the capacity and frequency of its routes, reducing its operating costs and introducing a fuel hedge to combat high global oil prices, he added.

Since announcing one of its worst ever quarterly losses of 280.66 million ringgit (US$74 million) in the three months to June after a profit of 26.58 million ringgit a year earlier, Malaysia Airlines has said it will undertake a five-year plan to boost profits by up to 1.0 billion ringgit. -- AFP