Malaysia Airlines cuts 6,000 jobs after twin disasters
In a plan to recover from two aviation disasters, Malaysia Airlines has just announced that it will cut 6,000 of its employees (or 30% of its current staff).
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| Malaysia Airlines flight crew at Kuala Lumpur International Airport in Sepang, Malaysia - Photo: Bloomberg |
Accordingly, a new CEO will be appointed soon and the company will become 100% state-owned.
“The combination of measures announced today (August 29) will allow our national carrier to revive,” said Azman Mokhtar, chief executive of Khazanah Nasional, a state investment company that currently owns 69% of Malaysia Airlines.
He also said long-haul routes would be cut, and the airline aimed to return to profit in 2018.
The restructuring of Malaysia Airlines comes as investigators continue to search for MH370, which disappeared in March while flying from Kuala Lumpur to Beijing, and investigate what caused MH17 to crash in eastern Ukraine in July, killing more than 200 people.
According to the BBC, the Malaysia Airlines recovery plan will cost about 6 billion ringgit ($1.9 billion).
According to TTO
