Malaysia Airlines to cut 30 pc staff in wake of dual air tragedies
In the aftermath of the dual air tragedies and subsequent losses in recent months, Malaysia Airlines has decided to cut 6,000 staff as part of its recovery plan.
The airlines will reduce its workforce by nearly 30 percent and will completely become state-owned with a new chief executive in place, the BBC reports.
The move comes amid continuing losses suffered by Malaysia Airlines in the second half of the year.
The airlines had earlier issued a statement saying it had witnessed "a sharp decline" in weekly bookings.
Malaysia Airlines reported a net loss of 307 million Malaysian ringgit (USD 97.4m, GBP58.7m) in the second quarter.
Khazanah Nasional, the state investment company that has 69 percent stake in the firm, will take 100 percent ownership, the report said.
Khazanah's managing director Azman Mokhtar said the combination of measures announced today will enable the national airline to be revived.
(Posted on 30-08-2014)