Malaysia Airlines sees 4th quarter rebound

Malaysia Airlines sees 4th quarter rebound    Malaysia Airlines made a $1.1 million fourth quarter operating profit, thanks mainly to a 7 percent rise in cargo revenue to $121 million, and reduced operating costs, the airline said.
   The line said it reduced operating costs by 13 percent, or $146 million. Like most other airlines, Malaysia suffered through a torrid 2008 and 2009, but benefited from an increase in cargo demand in the run-up to Christmas.
   'For 2010, we are positioning ourselves to capture the growth in light of signs of recovery,' said Tengku Dato' Azmil Zahruddin, managing director and chief executive. 'One of the ways we are doing this is through the modernization of our fleet and expanding our network — timely in the context of expected growth in the Asia Pacific region.'
   The airline's net profit rose from $13.5 million in the fourth quarter of 2008 to $179 million in the fourth quarter of 2009.