KUALA LUMPUR: Shares of Malaysian Airlines System Bhd (MAS) inched up at midday on Tuesday, May 7 as its managing director said it had kept the operating profit target of RM300 million to RM600 million for 2011.
At 11.56am, MAS was up one sen to RM1.43. There were 1.19 million shares done at prices ranging from RM1.42 to RM1.45.
Bernama quoted managing director Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz as saying MAS would remain resilient despite the challenging environment and will not change its operating profit target of between RM300 and RM600 million for the year.
'Life goes on, we don't intend to stop being an airline. Certainly, we have got to deal with it and make sure the level of growth we put in place (will) commensurate with the cost and revenue profile.
"Sometimes it is almost less that I know to be a problem, then' so what's next - and we can guarantee that something will come up from it," he said at a media briefing on the sidelines of the International Air Transport Association AGM and World Air Transport Summit in Singapore.
He said without doubt, he said prolonged higher oil prices "will affect us just as it will affect any other carrier."
Tengku Azmil was commenting on IATA's announcement on Monday that it slashed the airline industry's profit forecast for this year by 54% to US$4 billion, from US$8.6 billion, forecast in March due to natural disasters in Japan, geopolitical tension in Middle-East and North Africa, as well as skyrocketing fuel prices.
At 11.56am, MAS was up one sen to RM1.43. There were 1.19 million shares done at prices ranging from RM1.42 to RM1.45.
Bernama quoted managing director Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz as saying MAS would remain resilient despite the challenging environment and will not change its operating profit target of between RM300 and RM600 million for the year.
'Life goes on, we don't intend to stop being an airline. Certainly, we have got to deal with it and make sure the level of growth we put in place (will) commensurate with the cost and revenue profile.
"Sometimes it is almost less that I know to be a problem, then' so what's next - and we can guarantee that something will come up from it," he said at a media briefing on the sidelines of the International Air Transport Association AGM and World Air Transport Summit in Singapore.
He said without doubt, he said prolonged higher oil prices "will affect us just as it will affect any other carrier."
Tengku Azmil was commenting on IATA's announcement on Monday that it slashed the airline industry's profit forecast for this year by 54% to US$4 billion, from US$8.6 billion, forecast in March due to natural disasters in Japan, geopolitical tension in Middle-East and North Africa, as well as skyrocketing fuel prices.
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