MAS’ financials suffer up to 94% deterioration

A Malaysia Airlines plane sits on the taxiway at the Kuala Lumpur International Airport in Sepang, 10 July 2001. Malaysia Airlines will be allowed to raise fares by 20-30 percent on its loss-making domestic routes as part of moves to return to profitability in two years. AFP PHOTO/Jimin LAI (Photo by JIMIN LAI / AFP)

Malaysia Airlines Bhd financials are recording deteriorations of up to 94 percent since flight restrictions were imposed across the nation and in other countries.

According to BH Online, MAS group ceo, Captain Izham Ismail says the ongoing situation is pushing the airlines to implement several measures. These involves no-pay leave to employees and implementing a gross pay cut for employees earning high salaries.

Izham further stated that travel demands are not expected to see any rise in the near term. This will result in the airlines undertaking minimal flight network for the time being.

He was further quoted that MAS will continue operating limited flights to Sabah and Sarawak while domestic services across the peninsular will be undertaken by Firefly.

Reports also show that MAS’s measures were aimed at sustaining the airline’s cash flow and to protect employees earning low salaries as well as to prevent any possibility of layoffs.

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