Malaysia’s government will carry out a “complete overhaul” of its troubled national airline in an attempt to revive the loss-making company after it was hit by two devastating jetliner disasters this year.
The move on Friday to de-list Malaysia Airline System and take it private had been expected since ticket sales slumped in the wake of the baffling disappearance of MH370 on March 8 with 239 passengers and crew. The airline’s crisis deepened on July 17 when another jet, Flight MH17, was shot down over Ukraine, killing all 298 people on board.
State investment fund Khazanah Nasional’s proposed 1.4 billion ringgit ($436 …read more
Source: Newsweek
