Malaysia Airlines Is ‘Technically Bankrupt’

9 years ago | Posted in: Business | 634 Views

The new boss of Malaysia Airlines has claimed the carrier is “technically bankrupt”, following two plane accidents in 12 months.

Christoph Mueller has confirmed that 6,000 jobs will be cut at the troubled airline – ahead of a rebrand in September which aims to repair the damage caused by the losses of MH370 and MH17.

Consumer confidence was badly affected when Flight MH370 disappeared with 239 people on board in March 2014, and just four months later, Flight MH17 was downed by a suspected ground-to-air missile over Ukraine – killing 298 people.

The tragedies led to Malaysia Airlines being taken into state ownership and delisted from the stock market, but analysts claim the company has been mismanaged for years – a sentiment echoed by Mr Mueller… see more

source: skynews

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