Malaysia Airlines (MAS) suffered a lot as a result of the two major airline disasters last year, but had already been incurring massive losses prior to 2014. The company is now owned by the Malaysian sovereign wealth fund, Kazanah, who reportedly will inject RM6 billion into the struggling airline.
The new CEO, Christopher Mueller, formerly CEO of Air Lingus, took the helm in March, the first time the company has been headed up by an expat. The airline is also moving to a new legal entity, Malaysia Airlines Bhd this year. The workforce will be reduced by around 30% from 20,000 down to 14,000 and cut backs on certain routes will reduce the airline’s total capacity by around 10%. MAS is also reviewing its many supplier contracts as this has been frequently mentioned as a contributor to its heavy losses.
It is hoped the much leaner airline will then re-emerge as a profitably entity which can then re-expand its network.
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Just close it
….and make 18.000 people jobless?
It’s just a cosmetic change, more billions pumped in to make others richer!
I hope they get rid of all the bad apples!