Malaysia Airlines to cut 6,000 staff in overhaul
30 Aug 2014 12:20 AM GMT
Malaysia Airlines will cut 6,000 workers as part of an overhaul announced on Friday to revive its damaged brand after being hit by double passenger jet disasters. The staff reduction represents about 30 per cent of its current workforce of 20,000.
Khazanah Nasional, the state investment company that owns 69 per cent of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.
The overhaul and new investment in the carrier will cost about USD 1.9 billion.
The airline will be taken completely under the wing of the government. Khazanah previously announced that it plans to take 100 per cent ownership. Investigators continue to scour the southern Indian Ocean for Flight 370 which veered far of course while en route from Kuala Lumpur to Beijing on March 8 with 239 people on board.In July, 298 people were killed when Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists.
Khazanah Nasional, the state investment company that owns 69 per cent of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.
The overhaul and new investment in the carrier will cost about USD 1.9 billion.
The airline will be taken completely under the wing of the government. Khazanah previously announced that it plans to take 100 per cent ownership. Investigators continue to scour the southern Indian Ocean for Flight 370 which veered far of course while en route from Kuala Lumpur to Beijing on March 8 with 239 people on board.In July, 298 people were killed when Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists.
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