Kuala Lumpur (AFP) – Malaysia Airlines is “technically bankrupt”, its new German CEO said Monday as he outlined plans to stabilise the failing flag carrier including 6,000 job cuts.”We are technically bankrupt and that decline of performance started long before the tragic events of 2014,” Christoph Mueller told reporters, referring to two deadly disasters that rocked the airline last year.Malaysia Airlines took its first major steps on Monday under Mueller, sending termination letters to all of its roughly 20,000 employees, followed by new contracts offered to 14,000 of them.The exercise — which was expected — trims around 6,000 jobs.Mueller had …read more
Source: Business Insider
