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