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Old May 26th, 2009, 11:13 AM   #1561
Go Ahead Eagles
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Malaysia Airlines’ launches variety of deals to suit every budget


Malaysia Airlines’ has launched its Great-Deals-For-Everyone Sale, which provides a variety of special offers spanning over First, Business and Economy Class.
With a variety of deals to suit every type of budget, there’s never been a better time to enjoy Malaysia Airline’s awarding winning service at affordable prices.
Malaysia Airlines currently has a variety of deals on sale including:

Business Flies First – This deal allows passengers to fly first class but only pay business class prices from Sydney.
Mixed Class Travel – Passengers can fly Business class from Sydney/Melbourne/Brisbane/Adelaide/Perth to Kuala Lumpur and then fly first class from Kuala Lumpur to one of a select destination
Business Companion Fares – Passengers can enjoy discounted prices on Business Class Companion fares. Price quoted are per person when two or more passengers travel together on the same outbound flight. The deal allows for separate return travel.
Economy Plus for Business – This deal enables passengers to enjoy the perks of a Business Class seat and services for economy plus prices.
Adults Pay Child Fares – Adults can enjoy huge discounts on economy airfares with Malaysia’s adult pay child fare deal.
Asia-India Getaway – Passengers can enjoy special savings on economy travel to South East Asia and India
Malaysia on Sale- Passengers can enjoy special savings on economy travel to a number of Malaysia destinations including- Kuala Lumpur, Penang, Langkawi, Kuala Terengganu, Kuantan, Xuching, Kota Kinabalu, Tawau and Sandakan.
Great Malaysia Holidays – Until May 20, 2009 passengers can enjoy specials savings with Creative Holidays packages to Malaysia including flights and accommodation.
Malaysia Stopover Program - Stay two nights in select hotels in Kuala Lumpur from $120 per person and enjoy a third night free. This deal is available in conjunction with Malaysia Airlines long-haul flights only, the departure period is from 18 May – 30 November 2009.
Students’ 30kgs baggage allowance – All students travelling to and from Australia on Malaysian Airlines will be entitled to an additional 10kg of free baggage allowance over and above their normal 20 kg entitlement.
Being one of only six airlines worldwide officially rated 5-star by SKYTRAX this year, passengers will be sure to experience the true joy of flying with the World’s Best Cabin Staff (SKYTRAX 2009).
Malaysia Airlines operates 48 flights weekly from five cities and offers excellent connections to more than 100 destinations worldwide.

For more information on each deal including available destinations, travel dates, prices and booking please refer to www.malaysiaairlines.com, Reservations and Ticketing on 132 627 or through Travel Agents
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Old May 27th, 2009, 01:48 PM   #1562
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MAS offers 28 weekly Penang-S'pore flights
Published: 2009/05/27

MALAYSIA Airlines customers will enjoy 28 weekly direct flights between Penang and Singapore, and vice versa beginning June 1.

"Offering passengers more flight options which give them greater travel flexibility and convenience is made possible with the expansion of the code share agreement between Malaysia Airlines, Singapore Airlines and Silk Air," the airline said in a statement today,

It said customers will be able to enjoy 151 code share flights offered by the three carriers from all five destinations in Malaysia: Kuala Lumpur, Penang, Lanagkawi, Kota Kinabalu and Kuching to Singapore.

Malaysia Airlines senior general manager, network and revenue management Dr Amin Khan said there are already 92 weekly flights from Kuala Lumpur, 10 from Langkawi, nine from Kota Kinabalu, and 12 weekly flights between Kuching and Singapore, he added.

Tickets for the code share flights for Penang to Singapore is available for purchase and the first flight will be on June 1.

Malaysia Airlines is offering a RM98 all-inclusive one-way fare for flights between Malaysia and Singapore. - Bernama
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Old May 28th, 2009, 12:45 PM   #1563
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AirAsia scraps Bangkok-JB route
Published: 2009/05/28

BANGKOK: AirAsia is stopping its Bangkok-Johor Baru route beginning July this year, the second time it is taking such measures.

In an email to passengers who have booked flights from July onward, the budget carrier said AK5632 from Senai and the returning AK5633 would be cancelled.

In February 2008, AirAsia resumed its Bangkok-Johor Baru route with four flights a week, flying on Mondays, Wednesdays, Fridays and Sundays.

It had intended to be the first destination in Thailand from Johor Baru, targeting Johoreans, Singaporeans and those flying into the city from Sabah and Sarawak, but low load factor forced AsiaAsia to scrap the route.

AirAsia and its Thai subsidiary, Thai AirAsia, operate seven flights daily from Kuala Lumpur to Bangkok, as well as serving Krabi, Phuket and Chiang Mai, on top of the Penang-Bangkok route.

The Bangkok-Langkawi and Bangkok-Kota Kinabalu services were discontinued in 2007 due to low passenger load. -- Bernama
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Old May 29th, 2009, 10:48 AM   #1564
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AirAsia mulls share sale to fund expansion
Published: 2009/05/29

AIRASIA Bhd, Southeast Asia’s largest low-cost airline, said it’s considering raising about RM500 million (US$143 million) to fund expansion in the Malaysian company’s biggest share sale since listing in 2004.

“We’re looking at it,” chief executive officer Datuk Seri Tony Fernandes said in an interview today. “If our growth requires us to raise more cash, then we’re not averse to it.”

AirAsia, which has ordered 175 Airbus SAS planes, may raise the money in a stock sale or a rights offer to shareholders, Fernandes said. The timing or the structure of the transaction hasn’t been decided, he said.

The airline’s shares have surged 50 per cent this year in Kuala Lumpur trading, providing currency to raise funds as debt markets wither in the financial crisis. Fernandes expects Airbus to deliver about 24 planes annually for the next three to four years as the airline adds routes to India and boosts flights to China.

“Raising debt would be much cheaper, but I don’t think companies have a lot of choice these days,” said Raymond Yap, an analyst at CIMB Investment Bank Bhd in Kuala Lumpur with an “outperform” rating on AirAsia. Yap issued a report earlier today saying AirAsia may be considering a rights issue.

The carrier had a fleet of 74 planes at the end of March 31, it said in a statement yesterday after reporting its highest quarterly profit since the final three months of 2007. AirAsia had 59 Airbus A320 aircraft and 15 Boeing Co. 737s.

Based on AirAsia’s profit-growth forecasts, a RM500 million share sale won’t necessarily dilute earnings, Fernandes said. The Sepang, Malaysia-based company had RM224 million of cash on its books at the end of March 31.

AirAsia today rose 4 per cent to RM1.30 at the 12:30 pm break on the local stock exchange, set for the highest close in more than a year. Malaysia’s benchmark Composite Index added 0.3 per cent.

AirAsia’s second-quarter passenger traffic is headed for a 21 per cent jump, matching last quarter’s increase as budget- conscious travelers look for cheaper air fares, Fernandes said.

“For the moment, things are rosy,” he said in a Bloomberg Television interview. The “second-quarter demand looks good.”

Profit at the airline climbed 26 per cent in the first quarter to RM203.2 million after the company flew more passengers and added routes, the company said yesterday after the stock market closed.

The carrier’s surging traffic contrasts with slumps at regional rivals including Singapore Airlines Ltd, which is cutting routes and capacity. AirAsia, which expects to fly 24 million people this year, is increasing its capacity by about 20 per cent each quarter, the chief executive said.

AirAsia, which flies to one destination in India, will fly to at least six more airports in the South Asian nation before the end of 2009, Fernandes said. -- Bloomberg
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Old May 29th, 2009, 10:49 AM   #1565
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AirAsia has best first quarter
By Jeeva Arulampalam Published: 2009/05/29

The budget carrier's net profit grew 26 per cent to RM203.15 million in the three months ended March 31 2009

Busget carrier AirAsia Bhd (5099)is back in the black with a net profit of RM203.15 million in the first quarter of 2009, after posting two consecutive quarterly losses previously.

In the three months ended March 31 2009, its net profit grew 26 per cent as revenue increased 33 per cent to RM714.2 million due to better ancillary income and stronger passenger growth.

"This is our best first quarter ever and demand has continued in the second quarter," AirAsia group chief executive officer Datuk Seri Tony Fernandes told reporters at its quarterly briefing in Sepang yesterday.

Fernandes said AirAsia's outlook was positive as passenger growth continued. Seats sold year to date are up 21 per cent to 5.2 million.
"There is still demand if the price is right. The growth comes from low fares and we are well positioned because of our cost structure and marketing abilities," he said.

AirAsia targets to carry some 24 million passengers by the year-end and capture half of the market. Currently, it has 44 per cent market share.

The budget carrier will also see further growth with the liberalisation of air service between Malaysia and Singapore from June 1.

"We will be plying routes to Singapore from Penang, Langkawi, Miri and Tawau," Fernandes said.

He added that capacity and flight cuts by Asia's legacy carriers had created opportunities for AirAsia.

Owing to the lower traffic at many Asian airports, they are competing to secure AirAsia's business on more desirable terms for the airline, he said.

AirAsia saw its core operating profit surge to RM166 million in its first quarter, almost six times that a year ago.

Despite passenger travel seeing a decline globally, AirAsia has beaten all odds as its passenger numbers increased 21 per cent to 3.1 million. Load factor, however, declined 2 per cent to 70 per cent.

Ancillary income more than doubled to RM91 million, representing some 12.8 per cent of total revenue.

"The ancillary income will act as our buffer for future fuel increases as additional revenue from ancillary income is equivalent to US$30 (RM106) recovery in fuel price," Fernandes said.

Associate airline Thai AirAsia delivered operating profit of RM30.5 million, while its Indonesian affiliate posted RM11.5 million loss.
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Old May 30th, 2009, 08:27 AM   #1566
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In terms of budgeting choice, Air Asis is much better than MAS.

Quote:
Originally Posted by Go Ahead Eagles View Post
Malaysia Airlines’ launches variety of deals to suit every budget


Malaysia Airlines’ has launched its Great-Deals-For-Everyone Sale, which provides a variety of special offers spanning over First, Business and Economy Class.
With a variety of deals to suit every type of budget, there’s never been a better time to enjoy Malaysia Airline’s awarding winning service at affordable prices.
Malaysia Airlines currently has a variety of deals on sale including:

Business Flies First – This deal allows passengers to fly first class but only pay business class prices from Sydney.
Mixed Class Travel – Passengers can fly Business class from Sydney/Melbourne/Brisbane/Adelaide/Perth to Kuala Lumpur and then fly first class from Kuala Lumpur to one of a select destination
Business Companion Fares – Passengers can enjoy discounted prices on Business Class Companion fares. Price quoted are per person when two or more passengers travel together on the same outbound flight. The deal allows for separate return travel.
Economy Plus for Business – This deal enables passengers to enjoy the perks of a Business Class seat and services for economy plus prices.
Adults Pay Child Fares – Adults can enjoy huge discounts on economy airfares with Malaysia’s adult pay child fare deal.
Asia-India Getaway – Passengers can enjoy special savings on economy travel to South East Asia and India
Malaysia on Sale- Passengers can enjoy special savings on economy travel to a number of Malaysia destinations including- Kuala Lumpur, Penang, Langkawi, Kuala Terengganu, Kuantan, Xuching, Kota Kinabalu, Tawau and Sandakan.
Great Malaysia Holidays – Until May 20, 2009 passengers can enjoy specials savings with Creative Holidays packages to Malaysia including flights and accommodation.
Malaysia Stopover Program - Stay two nights in select hotels in Kuala Lumpur from $120 per person and enjoy a third night free. This deal is available in conjunction with Malaysia Airlines long-haul flights only, the departure period is from 18 May – 30 November 2009.
Students’ 30kgs baggage allowance – All students travelling to and from Australia on Malaysian Airlines will be entitled to an additional 10kg of free baggage allowance over and above their normal 20 kg entitlement.
Being one of only six airlines worldwide officially rated 5-star by SKYTRAX this year, passengers will be sure to experience the true joy of flying with the World’s Best Cabin Staff (SKYTRAX 2009).
Malaysia Airlines operates 48 flights weekly from five cities and offers excellent connections to more than 100 destinations worldwide.

For more information on each deal including available destinations, travel dates, prices and booking please refer to www.malaysiaairlines.com, Reservations and Ticketing on 132 627 or through Travel Agents
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Old June 1st, 2009, 08:30 AM   #1567
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MASkargo joins IATA e-freight programme
Published: 2009/06/01

IATA e-freight, an industry-wide initiative involving carriers, freight forwarders, ground handlers, shippers and customs authorities, aims to take the paper out of the air cargo supply chain

MALAYSIA Airlines Cargo Sdn Bhd (MASkargo), the air cargo division of Malaysia Airlines, has teamed up with the Royal Malaysian Customs and the International Air Transport Association (IATA) to launch IATA e-freight.

The new IATA e-freight programme eliminates the need to send 13 paper documents with air cargo shipments streamlining processes, improving speed and reliability, and cutting costs.

IATA e-freight became operational between Kuala Lumpur and Hong Kong, Singapore and Dubai on May 26, with further expansion planned in the coming months to South Korea and the Netherlands.

Facilitated by IATA, IATA e-freight aims to take the paper out of the air cargo supply chain. It is an industry-wide initiative involving carriers, freight forwarders, ground handlers, shippers and customs authorities.

The Malaysia IATA e-freight implementation team, led by MASkargo, started work in February 2009 and delivered IATA e-freight on schedule. Also involved were Emirates, Singapore Airlines, Cathay Pacific, KLM, DHL Global Forwarding, DB Schenker, the Airfreight Forwarders Association of Malaysia, Penang Freight Forwarders Association, Federation of Malaysia Freight Forwarders, Kuala Lumpur Airport Services and Malaysia Airports (Sepang) Sdn Bhd - KLIA Free Zone Authority.

Over the past year, IATA has assessed the readiness of 148 locations worldwide in addition to the original six e-freight sites. Of these, 44 countries, representing 80 per cent of global air-freight volumes, have the appropriate international treaties and high-level customs framework in place to qualify for IATA e-freight.

Malaysia becomes the 20th e-freight location worldwide to deliver paper-free cargo.

MASkargo managing director Shahari Sulaiman said the implementation of the e-freight programme will alleviate its status to be at par with established industry players.

"The e-freight programme, which MASkargo is embarking on, will bring tangible benefits by simplifying the business, reducing cost and improving opportunities in the industry's ever-changing and complex environment," said Shahari.

IATA e-freight is also operational in Australia, Canada, Denmark, Dubai, France Germany, Hong Kong, Luxembourg, Mauritius, the Netherlands, New Zealand, Norway and Singapore, among others.
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Old June 2nd, 2009, 05:53 AM   #1568
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AirAsia to mount Penang-Chennai flights soon
By Marina EmmanuelPublished: 2009/06/02

LOW-cost carrier AirAsia Bhd (5099) will launch daily flights from Penang to Chennai, India in three to four months.

The airline has been granted rights to fly the route by the government.

Transport Minister Datuk Seri Ong Tee Keat said the government is also in talks with other carriers to fly to regional destinations from the Penang International Airport this year.

"The liberalisation of air services is not only limited to increased flights to Singapore from Malaysian cities.
"We are currently in discussions with a few airlines to fly from Penang to Asian destinations," he told reporters after launching AirAsia's Singapore-Penang inaugural flight in Penang yesterday.

Also present were Health Minister Datuk Seri Liow Tiong Lai, AirAsia group chief executive officer Datuk Seri Tony Fernandes and the airline's chairman Datuk Aziz Bakar.

Malaysia Airlines (MAS) withdrew flights on the Kuala Lumpur-Penang-Chennai sector in 2001, as part of a route rationalisation programme.

On whether AirAsia has put proposals to the government to fly into more Indian cities, Fernandes said: "Not at the moment because we are short of aircraft, but we are looking at more destinations."

Meanwhile, Ong said the commencement of Silk Air's direct flights from Penang to Singapore yesterday, along with those to be offered by Firefly, Tiger Airways and Jetstar Asia, bring to a total of 49 weekly flights operating between Penang and Singapore.

Currently, MAS and Singapore Airlines are plying the route.

"By March next year, the frequency of flights to Singapore from Penang will increase to 84 times per week," he added.

Fernandes said to date, 17,000 seats have been sold by the airline since it opened the route for sale on April 27.

"AirAsia is looking at carrying 60,000 guests on this route by year-end," he added.

Besides Singapore, AirAsia also connects Penang travellers to other international destinations such as Bangkok, Jakarta, Medan and Macau.
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Old June 2nd, 2009, 09:15 AM   #1569
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Originally Posted by nazrey View Post
AirAsia X in no rush to buy A340s
By Presenna NambiarPublished: 2009/05/18

AIRASIA X (5099) is doubtful that it will be able to secure the remaining three A340-300s it wants to lease this year.

"We have some offers but we are not rushing it. We'll start with two (A340s) this year, and once London grows and we have more flights or open the second destination to Europe or even look at the US ... these are the possibilities," AirAsia X chief executive officer Azran Osman-Rani told Business Times.

He said it is important that that particular make of Airbuses is leased in order to keep costs low.

"The planes (A340s) are the exact same thing as our A330s. We can use the same pilots, everything is the same," Azran said.
AirAsia X expects to take delivery of three new A330s in September, November and December this year.

"We haven't fully finalised the destinations we will fly to with the new planes, but we definitely plan to double the number of destinations AirAsia X flies to, from four destinations at the start of the year, to 10 when we have eight planes," Azran said.

With the new planes, Azran said, he may add another Australian city, one or two more Chinese cities, one Indian city and maybe a Japanese city.

AirAsia X currently operates three A330s and one A340 and is expecting delivery of one more A340 in June.

Azran said his main aim in 2009 is to prove AirAsia X's mettle as a fully profitable entity.

"With our billion ringgit revenue and 10 to 20 per cent profit margin, we would be one of the Kuala Lumpur Composite Index's top 100 companies in terms of revenue and profit, and then, we can list on or sell off shares based on 2010 forward.

"Now, we have been showing profit since December, but it's not very exciting, is it?" Azran said.

He said such a feat would give AirAsia X the growth and size that could make for a very interesting initial public offering story.

"It hinges very much on getting the planes and starting the destinations. If we don't get it, we might only double our revenue, but we would like to quadruple it to one billion," Azran said.

On the Influenza A virus H1N1, he said, it has not affected the airline in the sense that people are still buying tickets and loads are steady.

AirAsia X has an average load factor of 77 per cent on its flights.
why use the A340? The B777 is a superior aircraft for long haul, it uses 2 engine and has more distance...I do not understand.
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Old June 2nd, 2009, 11:40 AM   #1570
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AirAsia likes to use AIRBUS es since they ordered A320's. They never order anything from Boeing.
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Old June 2nd, 2009, 03:19 PM   #1571
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Malaysia Airlines told to pay 6.9 mln euros fine

KUALA LUMPUR, June 1 (Reuters) - Malaysia Airlines (MAS) (MASM.KL), Malaysia's national carrier, said on Monday a European arbitration tribunal had ordered it to pay Advanced Cargo Logistic GmbH (ACL) 6.9 million euros ($9.8 million) for breach of a cargo handling contract.

In 2004, ACL had sought to claim 62.7 million euros from MAS after the Malaysian firm breached an agreement to maintain its European cargo hub at Germany's Frankfurt-Hahn airport for 10 years from 1999.

"Due to prudent provisioning in previous years, and given that the award orders MAS to pay only about 10 percent of the sum originally claimed by ACL in 2004, the award is not expected to have a material adverse impact on the financial position of MAS," it said in a statement.

The airline said it is seeking advice to challenge the ruling.

MAS shares closed up 5.8 percent at 3.28 ringgit. (Reporting by Julie Goh; Editing by David Holmes) ($1=3.471 Malaysian Ringgit)
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Old June 4th, 2009, 10:47 AM   #1572
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Malaysia Airlines new area manager for Sri Lanka & Maldives

June 2, 2009 : Manmohan Singh has been appointed as the new Area Manager Sri Lanka & Maldives for Malaysia Airlines, effective 1 May 2009. Manmohan Singh, a Malaysian national, brings with him 20 years experience in the Airline Industry.
“I see great potential for the Sri Lankan Tourism industry, now that the country has been liberated from the war with the LTTE”, said Manmohan. “Malaysia Airlines is a 5-star Value carrier with a string of international awards, and the national carrier of Malaysia would like to play a huge role in developing the tourist market in Sri Lanka,” he added.

“I know things are tough and there are great challenges before us, but I feel very positive about Sri Lanka,” he reiterated.

Manmohan Singh has a Mass Communications Degree from Western Australia and has worked in various positions in the Corporate Communications Division of Malaysia Airlines before joining the Sales Team in 2006. “My number one priority is to sustain and grow the profit for Malaysia Airlines in Sri Lanka & Maldives, and I am looking forward to working very closely with the Travel Trade. We want to make sure that our customers experience the very best of Malaysian Hospitality both in the air and on the ground,” he added.
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Old June 5th, 2009, 11:13 AM   #1573
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AirAsia Celebrates First Asean Crew Graduation

SEPANG, June 4 (Bernama) -- AirAsia, the leading low-cost carrier in Asia, held its first Asean crew complement graduation ceremony Thursday, which saw 68 trainees graduating as the first group of Asean flight attendants.

AirAsia's deputy group chief executive officer, Datuk Kamarudin Meranun presented the certificates of graduation.

The graduation ceremony marked a historical moment for the airline, where for the first time it presented the first batch of an all-Asean flight attendant graduates.

"While other airlines are cutting capacity and retrenching staff, AirAsia continues to grow and keeps on hiring," Kamarudin said during the ceremony held at the AirAsia Academy here.

Of the 68 graduating flight attendants, 27 were Malaysians, 22 Thais, 14 Myanmarese, three Indonesians and two Singaporeans, he said.

"As an Asean airline, an all-Asean crew is very important as it reflects our passion in projecting the beautiful image of Asean to the world," Kamarudin said.

AirAsia, he said, has grown its aircraft fleet from two in 2001 to 76 today while its staff strength grew from 200 to over 6,000 presently.



-- BERNAMA
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Old June 5th, 2009, 08:20 PM   #1574
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Indonesia AirAsia network is now AirAsia biggest domestic market but it has only three flight attendances graduated? or are they going to the AirAsia Bhd?

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Old June 6th, 2009, 10:32 AM   #1575
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@Langkawi International Airport, Kedah
by PYONKO
http://www.flickr.com/photos/omeyamapyonta/3599147257/

image hosted on flickr
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Old June 8th, 2009, 02:03 AM   #1576
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Originally Posted by Malaysian skyscraper View Post
AirAsia likes to use AIRBUS es since they ordered A320's. They never order anything from Boeing.
they have never ordered boeing planes, but they flew with b737-300's and indonesia airasia is still flying partly with boeing planes...

it is very simple why they keep it to only 1 type of plane. Why should they use a320's AND 737-7/8/900? It's much cheaper for the maintenance and stuff to focus on using 1 kind of plane.
It could be politics or a huge discount (why they chose airbus) because there are not big differences between the boeing 737ng and the airbus320...
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Old June 8th, 2009, 02:50 AM   #1577
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Same goes with the Airbus A330/340. Same pilot and crew training, lower costs.

Other LCC's also keep their fleets all the same like Ryanair and Southwest (both all Boeing).
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Old June 9th, 2009, 08:06 AM   #1578
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MASkargo wins excellence award
Published: 2009/06/04

MALAYSIA Airlines Cargo Sdn Bhd (MASkargo) has bagged yet another international award, this time the ACE Award for excellence under the air carrier category from US-based Air Cargo World.

MASkargo topped other carriers by achieving superior ratings from its freight forwarders in key areas such as customer service, performance, value and information technology.

The selection of winners was based on a survey responded by air cargo customers and Air Cargo World Magazine using their overall, first-hand experience to determine service excellence.

MASkargo managing director Shahari Sulaiman said the company is deeply honoured to receive the award as it boosts morale in the face of grim economic situation and stiff competition.
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Old June 9th, 2009, 08:06 AM   #1579
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MAS to partner Turkish Airlines
Tuesday June 9, 2009

KUALA LUMPUR: Malaysia Airlines (MAS) will sign a code-sharing agreement with Turkish Airlines today.

Turkish Airlines president and CEO Dr Temel Kotil said the partnership would enable both carriers to feed into each other’s network.

“We do not have extensive networks covering the Far East. With this arrangement, we can rely on MAS’ extensive network there.

“Similarly, MAS can ride on our extensive network in the Middle East and North Africa,” he said, adding that the agreement bode well for both airlines to increase their respective network coverage and load factor.

“This is one of the most important code-sharing agreements for both airlines and should have a positive impact on the revenue of both companies,” he said.

The code-sharing operations would start in the next few weeks, Temel said.

Meanwhile, he said, over the past five years, Turkish Airlines had increased its fleet size to 127 from 65. “We are expecting deliveries of nine new aircraft this year,” Temel said.

Apart from its fleet expansion, Turkish Airlines will continue to increase its number of international destinations.

This year, it expanded its domestic routes to include Corlu, Canakkale and Usak while flights from and to Ufa, Meshad, Sao Paolo, Binghazi, Dakar and Nairobi have been added to its international routes.

New routes to Goteborg, Lviv and Toronto have been plannned for this year.

On its performance, Kotil said Turkish Airlines achieved a 328% jump in net profit to US$874mil last year and a 15% increase in the number of passengers even as the market was experiencing a serious contraction.

He said Turkish Airlines served some 22.5 million passengers last year and forecast serving 26.7 million this year.
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Old June 10th, 2009, 07:31 AM   #1580
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MAS adopting new financial reporting standard
Published: 2009/06/10

MALAYSIA Airlines (MAS) (3786) is adopting the financial reporting standard 139 (FRS 139) to allow for transparency of its financial instruments, such as derivatives, given the tough operating environment.

MAS executive director and chief financial officer Tengku Azmil Zahruddin said most airlines experienced derivative hedging losses, but the current Malaysian accounting standards did not provide for such transparency.

"It (FRS 139) mainly deals with accounting for financial instruments, derivatives, and such. We decided to adopt it during the first quarter as the hedging issue didn't really come up until early this year," he told reporters.

"If you asked us last year, we did not plan on adopting early as it was not an issue then, without hedging losses and all. But it matters now, because of the environment we are in," said Tengku Azmil.
On May 28, MAS said the release of its first-quarter results would be delayed as it was early adopting the FRS 139 for its financial year 2009.

The airline will now release its first-quarter results this Friday, based on the FRS 139 issued by the Malaysian Accounting Standards Board and similar to the International Accounting Standard 39 (IAS 39) adopted by many international airlines.

The accounting standard FRS 139 will be made mandatory in Malaysia effective January 1 2010.
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