Analysts wonder what long-term plan can the
airline conjure
By LEONG
HUNG YEE
hungyee@thestar.com.my
“Ten years on, it is back to square one.
For the first nine months to Sept 30, 2011, MAS posted a net loss of RM1.24bil
against a net profit of RM8.55mil a year ago. Its cash and cash equivalent have
depleted to RM968.5mil as at Sept 30 compared with RM1.92bil a year ago.”
IT is
undeniable that Malaysia Airlines (MAS) is facing a crisis and is in a dire
state now. The carrier is having both cash and profit crisis for a while and
may fail if it continues the way it is now. Realising this, the management
introduced a new Business Plan 2012 on Wednesday hopefully to turn its fortune
around. Many will be interested in the business plan and the details on how it
will help steer MAS away from turbulence.
But surely
many will ask ... doesn’t MAS have enough business plans already? Over the past
decade, the flag carrier has undergone several business plans including the
Widespread Asset Bundling (WAU), Business Turnaround Plan 1 (BTP1) and Business
Transformation Plan 2. Some of these initiatives have produced some promising
results but the momentum was not sustained, nor did it steer MAS from further
turbulence.
Ten years
on, it is back to square one. For the first nine months to Sept 30, 2011, MAS
posted a net loss of RM1.24bil against a net profit of RM8.55mil a year ago.
Its cash and cash equivalent have depleted to RM968.5mil as at Sept 30 compared
with RM1.92bil a year ago.
Some analysts are saying the new business
plan was basically a new plan with the same story they have been seeing over
the years.
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