1 SEPTEMBER 2014
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Kuala Lumpur based Malaysia Airlines (MAS) is to be effectively nationalised, delisted from the local Stock Exchange, becoming part of the country’s sovereign wealth fund. The Chief Executive is to go and with him up to 6,000 staff.
A new CEO will be recruited but it remains to be seen whether this appointment will be from home or an experienced airline person from abroad. MAS has suffered a double whammy with the loss of MH370 in the Indian Ocean and the shooting down of MH17, neither of which could really be attributed to the airline. Passengers have stayed away, bookings dropping 30%.
MAS has an extensive regional and international network but is said to be blotted. Over the past nine years it has lost a net US$1.1bn while Singapore Airlines has made US$7.1bn without going into the red. The airline operates six Airbus A380s and as a member of oneworld has the London route to itself. An airline expert says that this sector alone should be very lucrative and could provide connecting traffic for much of South East Asia. www.malaysiaairlines.com
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