The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Malaysia Airlines made fit to fly

The turnaround of Malaysia Airlines has few parallels anywhere in the world, never mind in Malaysia.

What price Malaysia’s corporate reconstruction?


Idris Jala, Malaysia Airlines

Idris Jala: had to get big results fast

It has made something of a celebrity of Idris Jala, the CEO appointed in 2005 in what he calls "possibly the worst and most difficult time in our history". In the first nine months of the 2005 fiscal year, the company had logged a M$1.3 billion ($370 million) loss. Continuing on that trajectory, it would have gone bankrupt by the middle of April 2006. Jala’s blueprint for revival was called the Business Turnaround Plan, unveiled in February 2006 with an immediate emphasis on survival, followed by profitability in 2007. Few gave it much chance of success, which made it all the more surprising when Malaysia Airlines beat its targets instead of ducking them. It was profitable by the third quarter of 2006 and has stayed that way, with all of the problems that so badly affected it in the past – low yield, inefficient network, low productivity and spiralling costs – dramatically improved.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree