CEO says Malaysia Airlines has first monthly profit in years
KUALA LUMPUR, Malaysia – The head of Malaysia Airlines says the carrier recorded a profit in February, its first positive monthly result in years, and is on track to return to the black by 2018.
In an interview Wednesday with The Associated Press, CEO Christoph Mueller described the airline as a "ship that has many leaks," but said the monthly profit was a sign that things are on the right track.
He said costs were down, underpinned by low fuel prices.
Twin 2014 disasters, including the disappearance of Flight 370, hurt the airline's reputation, but Mueller said its main problems include an unsustainable network of routes, high operating costs and archaic information technology systems.
Mueller was hired a year ago to revamp the carrier under a $1.5 billion overhaul that included cutting 6,000 jobs.