Coffee table book on Malaysia Airlines serves as a point of reference in history, says Dr Wee


PETALING JAYA: A espresso table book that chronicles the 85-year historical past of nationwide service Malaysia Airlines has been launched.

Entitled “Rising to a New Horizon: A New Journey Begins”, it traces the untold tales of the airways’ journey from its humble beginnings flying out of a small airfield in 1947 with simply 5 passengers onboard to turning into a world-class airline in the present day, carrying 40,000 passengers every day to over 900 locations.

Transport Minister Datuk Seri Dr Wee Ka Siong stated the book will serve as a point of reference in historical past that data the airline’s achievements in the previous couple of years in turning the corporate round after it concluded a profitable restructuring.

“Through archived footage that some could not have seen earlier than, this espresso table book encapsulates the journey of how Malaysia Airlines has served the nation, travellers and everybody with their distinctive Malaysian hospitality over the previous 85 years.

“Despite a number of modifications over time, the signature Malaysian hospitality identification has made us proud and even put Malaysia on the world map.

“Over the years, we’re proud to see how Malaysia Airlines Group (MAG) has been a catalyst in accelerating nationwide milestones together with some of its newest achievements, one of them was being the primary airline to ship the primary batch of Covid-19 vaccines to Malaysia and the primary airline in Malaysia to function SAF-powered flights for each cargo and business flights,” stated Dr Wee in the course of the book launch at Malaysia Airlines Academy right here Thursday (July 7).

He stated it was additionally value noting that the restructuring the Group undertook in 2021 gave MAG the chance to holistically restore its stability sheet and tackle decades-long legacy points, which resulted in a discount in the Group’s liabilities of over RM15bil, and eliminating RM10bil in debt.

Lower working price from its price financial savings and avoidance initiatives throughout the Group as properly as decrease leasing price, following its profitable restructuring, additional contributed to the improved efficiency in 2021.

Dr Wee added that regardless of decrease passenger visitors and lowered capability for Malaysia Airlines by 62% and 71% respectively in 2021, MAB has recorded 57% greater yield in passenger income, attributed to their Airline Revenue Maximisation Solution (ARMS).

MAG chairman Tan Sri Wan Zulkiflee Wan Ariffin stated as international locations all over the world had been opening their borders following the Covid-19 pandemic, MAG felt it was well timed for the launch of its first ever espresso table book.

“We felt that it was the best time for us to have fun our historical past whereas reminding the general public of who we’re and our satisfaction as the nationwide service.

“What higher manner to try this than a book launch? The book has captured a lot of our vibrant historical past and milestones all through the years.

“The book tells the story of perseverance, resilience and hope that quickly MAG will overcome our challenges,” stated Wan Zulkiflee.

He additionally stated that as the world battles towards the Covid-19 pandemic, with the aviation trade being among the many most severely impacted, the Group has proactively remodeled the organisational tradition and work procedures, boosting buyer expertise by means of digital applied sciences, whereas enhancing the Malaysian hospitality expertise.

The MAG is at the moment present process a group-wide transformation below the banner of a Long-Term Business Plan (LTBP) 2.0 to turn into Asia’s main journey and aviation companies group.

MAG group chief govt officer Captain Izham Ismail, who joined Malaysia Airlines in 1979 as a cadet pilot, stated over the previous 85 years, Malaysia Airlines has operated below a number of unfavourable circumstances, but continued to remain afloat.

“This book is an ode to the beloved service we helped construct and maintain as a united nation.

“When the Covid-19 pandemic hit, which offered one other dent to our restoration journey, we embarked on a large restructuring train and efficiently reset our stability sheet that remodeled our enterprise dynamics to realign with our long-term aspirations and guarantee enterprise survivability.

“At a time the place the trade was nonetheless reeling from a international transportation disaster, we managed to slim our full-year internet loss for 2021 by 60%, achieved constructive EBITDA (earnings earlier than curiosity, taxes, depreciation and amortisation) of RM433mil from robust cargo income efficiency and stringent price administration, and did this with out retrenching our employees,” he stated.

He additionally acknowledged that the corporate nonetheless had its sights set to breakeven by 2023, however with headwinds from gas and foreign exchange, this can be its hardest goal but.

“However, we stay bullish and centered on our path for fulfillment, but additionally cautious to mitigate any future shocks to the organisation,” he stated.

Malaysia Airlines was based in 1937 as Malayan Airways Limited (MAL) in Singapore.

After separating from its partnership with Singapore, Malaysia Airlines started operations as a regional airline in 1972.

Since then, it has expanded its operations to incorporate flights to 18 cities worldwide, together with London, Tokyo, Amsterdam and Seoul.

The time between the Seventies and the mid-Nineties was its golden period till the airline was burdened with heavy investments, placing it below mounting monetary strain, adopted by the dual tragedies that occurred in 2014, which introduced Malaysia Airlines to the brink of chapter.

As issues had been starting to choose up in 2019, a international pandemic of unprecedented scale occurred in 2020, bringing all flights to a halt.

The Group efficiently restructured the stability sheet in 2021 placing the corporate on a stronger footing.

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