Malaysian Airline System (MAS) plans to order 110 new aircraft as part of a seven-year plan to overhaul its entire fleet, it revealed during a first quarter results briefing.

MAS posted a profit of MYR132.7 million (US$39 million) in the three months to March, compared with a year-earlier loss.



The state-owned flag carrier said it plans to buy 55 wide-bodied long-range aircraft and 55 smaller regional jets, all worth US$14.3 billion at list prices, reported Reuters.



Malaysia Airlines was already known to be in the market for narrow-bodied planes, such as the Airbus A320, Bombardier C series and Boeing 737, the news agency said.



It chose its first-quarter results briefing to announce that it was also looking for about 55 wide-bodied planes, such as the new Airbus A350 and Boeing 787 Dreamliner. "We plan to issue another request for proposal for wide-bodied aircraft," said chief financial officer Azmil Zahruddin Raja Abdul Aziz.



At the briefing, MAS chief executive Idris Jala said he expected the airline to hit the upper end of its MYR300 million (US$88.4 million) to a MYR700 million profit this year, according to a Bloomberg report.



Mr Azmil, the CFO, said plane orders would be funded by a recent rights issue plus cash flow. Mr Idris said it was too early to decide if any extra debt was required. The airline reported January-March net profit of MYR133 million compared with a loss of MYR321 million a year earlier.



MAS returned to profit in the third quarter of 2006, having slashed costs and unprofitable routes. Revenues have also begun to pick up - they grew 21 per cent in the first quarter, said Reuters.