MH denies rumours of 28/5 shutdown | Australian Frequent Flyer
Australian Frequent Flyer

Welcome to Australia's leading independent Frequent Flyer and Travel Resource since 1998!
Our site contains tons of information that will improve your travel experience.

Joining AFF is fast, simple & absolutely free - register now and take immediate advantage of these great BENEFITS.

Once registered, this box will disappear. And you will see fewer advertisements :)

MH denies rumours of 28/5 shutdown

Status
Not open for further replies.

Isochronous

AFF Supporter
Joined
Dec 18, 2009
Messages
4,250
Flights
My Map
We are not shutting down, says M'sia Airlines - ANN

Malaysia Airline (MAS) has squelched rumours claiming that it will shut down its operations on May 28.

Maintaining that business would carry on as usual, MAS chief executive officer Ahmad Jauhari Yahya said articles written based on quotes from unofficial sources were causing anxiety among its passengers.

“In spite of that, we remain committed with greater marketing push,” he said, adding that the current Malaysia Airlines Travel Fair allowed travellers to purchase their tickets at half price until December.

“Passengers need not worry.”

The financially ailing airline, which held an enviable record of good aviation practices, has suffered waves of bad publicity following the disappearance of Flight MH370.

Shares of MAS continued to slip following the incident.

Yesterday, MAS’ share price slipped to an intra-day low of 17 sen, with 109.1 million shares traded.

For the first quarter ended March 31, the airline posted net loss of 444 million ringgit (US$138 million), plunging 72% from the preceding quarter and 28% year-on-year.

Revenue came in at 3.53 billion ringgit, up 4.2% from 3.39 billion ringgit last year.

*US$1 = 3.21 ringgit
 

Timba-Jet

Active Member
Joined
Apr 19, 2009
Messages
755
Didn't realise the financial situation was so bad. Hope MH can recover, I personally would have no hesitations flying with them. Though I know plenty of people who would be hesitant, mostly occasional flyers of the non-AFF folk.
 

BAM1748

AFF Supporter
Joined
Jul 22, 2008
Messages
5,394
Maintaining that business would carry on as usual, MAS chief executive officer Ahmad Jauhari Yahya said articles written based on quotes from unofficial sources were causing anxiety among its passengers.

I don't think it's the articles pal, perhaps its the fact you killed 300 people and can't find them. :evil:

After loosing an aircraft full of people I do not care if they survive or not. Hard yes but that comes with the territory.
 

boomy

AFF Supporter
Joined
May 10, 2013
Messages
7,512
Maintaining that business would carry on as usual, MAS chief executive officer Ahmad Jauhari Yahya said articles written based on quotes from unofficial sources were causing anxiety among its passengers.

I don't think it's the articles pal, perhaps its the fact you killed 300 people and can't find them. :evil:

After loosing an aircraft full of people I do not care if they survive or not. Hard yes but that comes with the territory.
+1
I reserve my sympathy to the families of the missing pax, they are the real victims here, not the airline.
 

Major

AFF Supporter
Joined
Jan 21, 2011
Messages
3,697
Flights
My Map
I hope they are only rumours. We are due to return from CDG next Tuesday with MH
 

Isochronous

AFF Supporter
Joined
Dec 18, 2009
Messages
4,250
Flights
My Map
I have SIN-KUL-MEL-KUL booked with them in a month's time as part of my 280k award. Otherwise I'd have to beg QF to release a seat from SIN for me.
 

MEL_Traveller

AFF Supporter
Joined
Apr 27, 2005
Messages
18,345
the financial issues for MH have been openly discussed for some time. It's worth about $1.3 billion or something IIRC.

Chinese arrivals into Malaysia are down something like 30% and forward bookings ex China are supposedly non-existent with most (if not all) Chinese travel agencies boycotting the airline.

Couple that with what I read is a pretty bad business class and you can start to see the airline would be in some difficulty.
 

OATEK

AFF Supporter
Joined
Apr 12, 2013
Messages
2,776
Flights
My Map
the financial issues for MH have been openly discussed for some time. It's worth about $1.3 billion or something IIRC.

Chinese arrivals into Malaysia are down something like 30% and forward bookings ex China are supposedly non-existent with most (if not all) Chinese travel agencies boycotting the airline.

Couple that with what I read is a pretty bad business class and you can start to see the airline would be in some difficulty.
If the business continues to nose dive, then a Chapter 11 equivalent or other major restructure does seem likely. It has brought to the surface again all the tensions about the treatment of ethnic Chinese in Malaysia, and that suggests a reversal of fortune is not likely in the short to medium term. If I was a shareholder I would be very worried about MH future.
 

medhead

Suspended
Joined
Feb 13, 2008
Messages
18,994
Flights
My Map
Given the most likely situation is that MH370 was lost due to a deliberate action by an individual and not due to the airline, I think there is some misdirected anger in this thread.

Does Malaysia have the equivalent of chapter 11?
 

drron

AFF Supporter
Joined
Jul 4, 2002
Messages
19,021
The Malaysian government owns 69.37% of MAS so unlikely to just let it go.May mean a JAL type restructure though.
 

OATEK

AFF Supporter
Joined
Apr 12, 2013
Messages
2,776
Flights
My Map
Does Malaysia have the equivalent of chapter 11?
As a listed company it will have insolvency provisions, which I was alluding to, rather than an exact equivalent of the US model. I would think the Malaysian Government would want to avoid insolvency provisions being triggered, which only adds to the likelihood of some sort of major restructuring as suggested in the SMH article if the business can't be turned around.
 

deejo77

Active Member
Joined
Feb 5, 2012
Messages
905
I really hope they stay up until my A380 flight out of CDG on 23 October back to Australia - it will be very hard at this late time to find 6 economy reward seats to get us back without MH
 

under the radar

AFF Supporter
Joined
Apr 8, 2010
Messages
1,086
may I just add my sympathy also to the families of ALL the cabin crew/tech crew on MH370... the families are NOT responsible for the actions of the person/persons involved in the disappearance of MH370.. these families deserve just as much sympathy...

and in response to those who 'don't care if MH survives or not'.. potentially thousands of INNOCENT MH (and associated) employees will lose their job... Your 'wrath of hate' should ONLY be focused on the INDIVIDUAL/S WHO ACTIVELY CAUSED THE DISAPPEARANCE OF MH370... your views are just pure ignorance

my views/opinions are not just MH specific.. in ANY company/business/family!!!.. the acts/mindset of one/a few individuals, does not mean the WHOLE company/business/family is RESPONSIBLE...(eg..those that post on 'social media' that they wish QF would fail/fold...just because of the actions of one/a few)

just my views/opinions



just my opinion
 

yohy?!

AFF Supporter
Joined
Nov 30, 2009
Messages
4,472
Flights
My Map
may I just add my sympathy also to the families of ALL the cabin crew/tech crew on MH370... the families are NOT responsible for the actions of the person/persons involved in the disappearance of MH370.. these families deserve just as much sympathy...

and in response to those who 'don't care if MH survives or not'.. potentially thousands of INNOCENT MH (and associated) employees will lose their job... Your 'wrath of hate' should ONLY be focused on the INDIVIDUAL/S WHO ACTIVELY CAUSED THE DISAPPEARANCE OF MH370... your views are just pure ignorance

my views/opinions are not just MH specific.. in ANY company/business/family!!!.. the acts/mindset of one/a few individuals, does not mean the WHOLE company/business/family is RESPONSIBLE...(eg..those that post on 'social media' that they wish QF would fail/fold...just because of the actions of one/a few)

just my views/opinions



just my opinion
under the radar, entertaining as ever ;)
 

JohnK

AFF Supporter
Joined
Mar 22, 2005
Messages
41,162
Didn't realise the financial situation was so bad. Hope MH can recover, I personally would have no hesitations flying with them. Though I know plenty of people who would be hesitant, mostly occasional flyers of the non-AFF folk.
I am very hesitant. I don't blame MH for what happened but their handling of the situation was/is poor.

I flew MH for 12 months. Time to have an indefinite break.
 
Status
Not open for further replies.

AFF on Air Podcast

  • jb747’s Stellar Career with Qantas – AIR013
    Sat, 15 Jun 2019 03:00:41 AEST
      In this special edition of the podcast, Matt chats to John Bartels (a.k.a. jb747) about his flying career with Qantas, the A380, the QF30 incident, flight training, retirem ...
  • Cheap Virgin Australia Business Class – AIR012
    Sat, 01 Jun 2019 03:05:28 AEST
      Find out how to get cut-price Virgin Australia Business Class tickets by buying and redeeming Etihad Guest miles! This episode also includes some listener Q&A and an interv ...
  • Star Alliance Status – AIR011
    Sat, 18 May 2019 09:39:41 AEST
      Find out how to easily earn Star Alliance Gold status with several different frequent flyer programs! This episode also includes an interview with John Blom, Australia’s ...
  • Premium Economy – AIR010
    Sat, 04 May 2019 00:21:32 AEST
      Premium Economy is a great compromise if you want a more comfortable experience than Economy, without paying for Business or First class airfares! In this episode, AFF’s ...
  • Hyperinflation of Points – AIR009
    Sat, 20 Apr 2019 04:49:59 AEST
      Frequent flyer points are a valuable currency, but they aren’t immune from hyperinflation! In this episode, Matt discusses why frequent flyer points are a terrible long-t ...

Community Statistics

Threads
81,561
Messages
1,883,043
Members
49,448
Latest member
Chelsea9
Top