Arab Today, arab today malaysia airlines to trim staff routes under reform plan
Last Updated : GMT 23:55:05
Arab Today, arab today
Arab Today, arab today

Malaysia Airlines to trim staff, routes under reform plan

Arab Today, arab today

Arab Today, arab today Malaysia Airlines to trim staff, routes under reform plan

Azman Mokhtar, managing director of state investment
Kuala Lumpur - AFP

Malaysia Airlines will slash thousands of staff, trim routes, replace its CEO and consider strategic stake sales to outside investors under plans announced Friday to save it from bankruptcy after two devastating disasters.
"The combination of measures announced today will enable our national airline to be revived," said Azman Mokhtar, head of state investment fund Khazanah Nasional, which has taken over the struggling company.
Azman said the restructuring plans -- which will cost 6 billion ringgit ($1.9 billion) -- would result in the airline's nearly 20,000 employees being reduced to 14,000 to put it on a "right footing in terms of staff size".
He said the airline would carry out a "route rationalisation" -- a term Malaysia Airlines has used previously for cutting unprofitable routes -- and to pick a new CEO by the end of 2014.
He added that "a sell-down, or partial sell-down, of Khazanah's stake to appropriate strategic buyers from the private sector will be considered" in the future.
Khazanah Nasional, which already owns 70 percent of Malaysia Airlines (MAS), announced plans in early August to acquire all remaining shares and de-list the company as it works to revive it.
MAS has struggled for years to meet the challenge of rising industry competition.
On Thursday it posted its sixth straight quarterly loss for April-June and forecast more red ink over the rest of the year, saying the MH370 and MH17 air disasters and associated stigma have compounded its financial troubles by ravaging bookings.
MH370 went missing on March 8 after inexplicably diverting from its Kuala Lumpur-Beijing course. The Malaysian government says it is believed to have gone down in the southern Indian Ocean, but no trace has been found and it remains a mystery what caused it to go missing.
MH17 went down on July 18 over a region of eastern Ukraine held by pro-Russian rebels. Western leaders say it was shot down by the separatists but investigators have not been able to ascertain who was responsible.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today malaysia airlines to trim staff routes under reform plan Arab Today, arab today malaysia airlines to trim staff routes under reform plan

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday