Malaysia Airlines reports record profits in 2007

Malaysia Airlines reports record profits in 2007 Malaysia Airlines reported record net profit of $264.6 million in 2007, a huge change compared to the airline’s $42.2 million loss in 2006.
   The profit is the highest ever for the airline, surpassing its $143.4 million in 2004, a year before it plunged perilously close to bankruptcy.
   For fiscal year 2007, 'strong passenger demand and sustained yield improvements boosted revenue to ($.7 million), a 13 percent increase from a year earlier,” the company said in a statement. “Operating profit improved to ($248 million) from ($92 million in) losses previously on the back of a robust 71.5 percent passenger load factor and yield which rose 12 percent.”
   For the future, the airline pointed out that its cargo division, MASkargo, has entered into global partnerships with DHL Global Forwarding and DB Schenker, with the potential value of the two partnerships expected to exceed $108 million annually.