In 2007, our plan will focus on improving efficiency and capabilities. In 2008, we will focus on new growth opportunities.

The government has agreed to give us a free hand in managing the network, and this will mean that we will have full control on determining capacity, frequency and pricing. Managing yields will be a key factor to ensure profitability and it's important for us to be able to manage this.

On current business assumptions, course and speed, we will surely fail unless we radically change the way we run our business.

Our poor pricing, rising cost structure, mismatched fleet, weak operational performance, low-intensity performance culture, and social obligations all contributed to our dismal financial performance across most routes we fly.

We are facing a crisis in Malaysia Airlines.

Should these losses and cash drain continue, MAS would enter a downward spiral from which it would not likely recover.