Malaysia Airline Announces Major Restructuring | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.19.25

Airborne-NextGen-05.20.25

AirborneUnlimited-05.21.25

Airborne-AffordableFlyers-05.22.25

AirborneUnlimited-05.23.25

Sat, Aug 30, 2014

Malaysia Airline Announces Major Restructuring

Will Be De-Listed From Kuala Lumpur Stock Exchange

Troubled Malaysia Airline will make extensive route cuts and eliminate some 6,000 jobs in a major restructuring announced Friday by its majority shareholder.

USA Today reports that the employee reduction accounts for about 30 percent of the airline's total workforce. It also plans to focus on regional routes rather than the unprofitable long-haul international routes, according to Khazana Nasional, the Malaysian government's sovereign wealth fund.

The program was already under discussion before the airline suffered the loss of two of its Boeing 777 airplanes this year.

The airline will be nationalized and de-listed from the Kualua Lumur stock exchange by the end of the year. Khazanah reportedly plans to return a profitable airline to the exchange by 2017.

In a news release, Tan Sri Azman Hj. Mokhtar, Managing Director of Khazanah, said, “The combination of measures announced today will enable our national airline to be revived. While funds have been made available, they come with strict conditions, so as to ensure that MAS truly resets its business model and cost structures, in order to be truly sustainable. Success is by no means guaranteed – while it is imperative that MAS as a critical enabler in national development is revived, public accountability for the use of the funds mean that it cannot be renewed at any cost. The plan also calls for all parties to close ranks and work together to enable the permanent reconstruction of our national icon.”

(Image from file)

FMI: www.khazanah.com

Advertisement

More News

Aero-FAQ: Dave Juwel's Aviation Marketing Stories -- ITBOA BNITBOB

Dave Juwel's Aviation Marketing Stories ITBOA BNITBOB ... what does that mean? It's not gibberish, it's a lengthy acronym for "In The Business Of Aviation ... But Not In The Busine>[...]

Airborne 05.19.25: Kolb v Tornados, Philippine Mars, Blackhawk Antler Theft

Also: Tentative AirVenture Airshow Lineup, Supersonic Flight Regs, Private Pilot Oral Exam Guide, Boeing Deal The sport aircraft business can be a tough one... especially when Moth>[...]

Klyde Morris (05.19.25)

Klyde Gets Nervous... Is Crazy Mike Enough? FMI: www.klydemorris.com>[...]

Airborne-NextGen 05.20.25: Drone Regs, Zero-Emission Cargo, Door-Dash Drone

Also: Blackhawk’s Replacement, Supersonic Flight, Archer 1Q/25, Long-Range VTOL Program U.S. Secretary of Transportation Sean P. Duffy released an update on progress being ma>[...]

Airborne Affordable Flyers 05.22.25: RV-15 Finalizing, OSH NOTAM, Kolb v Tornado

Also: Elektra Solar Trainer, U.S. Nationals Update, SeaMax M-22 Catches Fire, Bearhawk Aircraft At SUN ‘n FUN The Vans Aircraft engineering team recently provided its spring >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC