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Idris Jala to pilot Mas for 3 more years?

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Idris to pilot MAS for 3 more years?

DATUK Seri Idris Jala is set to stay on as the managing director and chief executive officer of Malaysian Airline System Bhd (MAS) for another three years.

His existing contract expires at the end of this year.

 

Staying on means that he will have to steer the company through what he calls a perfect storm: oil prices have hit record highs, the global economy is slowing and competition is getting tougher.

 

Idris said the fresh contract talks between the government, its investment arm Khazanah Nasional Bhd and MAS directors have been ongoing. "We have reached a mutual agreement," he told reporters after delivering a lecture organised by the alumni body of the Universiti Sains Malaysia (USM) in Penang yesterday.

 

The 50-year-old turnaround specialist graduated from USM in 1982 with a bachelor's degree in development/management.

There has been little to suggest that Idris would not keep his job after changing the fortunes of the national carrier.

Idris was appointed to his current position in December 2005 after MAS posted two successive quarters of losses. It lost RM1.3 billion that year.

MAS now has RM5 billion in cash and it intends to reduce costs by RM630 million this year.

It plans to buy second-hand planes from financially troubled airlines.

"The airline business is expected to go into turmoil over the next few years and we are hoping for distressed sales of aircraft," he added.

He told reporters that although MAS is holding off its option to order 20 B737-800 aircraft, there would be no change to the orders for the 20 ATR 72-500 turbo propeller planes the company placed last year.

MAS' wholly-owned subsidiaries Firefly and MASwings are each set to get 10 new ATRs, which are currently being sold by its manufacturer Aerei da Trasporto Regionale (ATR) for US$18.5 million (RM60 million) each.

 

MAS will use its own funds and borrowings to buy the ATR planes.

Asked on the status of the delivery of the six Airbus A380 jumbo passenger jets, Idris said the first A380 will arrive in January 2011 while the other five will be delivered on a monthly basis during the first half of 2011.

MAS was originally scheduled to take delivery of its first A380 in July last year and its sixth in May 2009.

However, delivery dates have been delayed after European aircraft maker Airbus began facing production delays since 2005 for its flagship superjumbo programme.

NST - Business

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It plans to buy second-hand planes from financially troubled airlines.

"The airline business is expected to go into turmoil over the next few years and we are hoping for distressed sales of aircraft," he added.

For those looking forward to announcement of MH's widebody order at upcoming Farnborough, very probable it just went .............. "poof" !! :p

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Expecting the next few years will be very tough for MH and his job at Shell is still available to him, I am surprise that he stays on. May be aviation bug has gotten into him, infected him and finds more satisfaction in the aviation industry.

 

 

:drinks:

 

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MAS now has RM5 billion in cash and it intends to reduce costs by RM630 million this year. It plans to buy second-hand planes from financially troubled airlines. "The airline business is expected to go into turmoil over the next few years and we are hoping for distressed sales of aircraft," he added.

For those looking forward to announcement of MH's widebody order at upcoming Farnborough, very probable it just went .............. "poof" !!

Nah, after the previous press statement that they are freezing any new aquisition of aircrafts, personally I don't expect anything from MH at the UK Air Show. I wonder which airlines would sell their B77Ws to MH?

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Could it be possible for MH to buy slots that GA already has for their 77W?

 

How is GA doing anyway? Considering Indonesia's economy is also suffering (maybe worst than ours?)? Would they be willing to sell?

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MH-GA buyover?

 

It could be trouble since before its starts. Not enough Malaysian Government interference, Indonesian Government will too.

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Anyway, on A.net someone said Air Asia X is going to announce something with Airbus.

D7... probably to exercise the remaining 10 A333s they have on option from their confirmed 15 A333s purchases? Or maybe the announcement of their long haul fleet (A350)?

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it's going to be tough helm for Dato IJ with so much of challenges upcoming...

I also wonder why he accepted the renewal....

 

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D7... probably to exercise the remaining 10 A333s they have on option from their confirmed 15 A333s purchases? Or maybe the announcement of their long haul fleet (A350)?

 

yes some people there have been confidently telling me that the A350XWB deal was sealed ages ago. god knows what and when.

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