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Malaysia airlines to announce major revamp plan
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MALAYSIA Airlines is due to announce a revamp plan on Monday as the flagship carrier tries to recover from years of losses and two major air accidents last year.
The airlines' new head Christoph Mueller is expected to hold a briefing on the strategy and plans for the new Malaysia Airlines. The new airlines, with new logo, will take over operations later this year.
Mueller, a former chief executive of Ireland's national airline Aer Lingus, said it would take at least three years to complete the overhaul of the troubled airlines.
Malaysia Airlines will also cut its work force by one-third. All of the company's some 20,000 employees will receive termination letters on Monday, while only 14,000 are expected to be offered to work for the revamped airlines.
According to Mueller, the airlines needs fewer staff as the it will focus on regional routes in the future.
Malaysian Transport Minister Liow Tiong Lai said Malaysia Airlines will serve as a transit carrier to fly regional links to Australia, China, India and Southeast Asian countries like Indonesia and Thailand.
Malaysia Airlines Flight MH370 went missing on March 8 2014 en route from Kuala Lumpur to Beijing with 239 people on board while Flight MH17 crashed in eastern Ukraine on July 17 on its way from Amsterdam to Kuala Lumpur. All 298 people aboard were killed.
Khazanah Nasional, Malaysia's strategic investment fund and Malaysia Airlines' parent company, announced privatization of the company late last year for restructuring.
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