8 DECEMBER 2014

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Article from BTNews 8 DECEMBER 2014

Malaysia Airlines new boss

Christoph Mueller, the man credited with turning round Irish carrier Aer Lingus, has been picked to head the successor company to Malaysia Airlines (MAS), which is being taken private.

Khazanah Nasional, Malaysia's sovereign wealth fund and MAS's parent company, confirmed last Friday his appointment as Chief Executive-designate and made other leadership appointments for the new company.

"The appointments announced today are part of efforts by the Government and Khazanah to lay strong foundations for the future success of our national carrier," Malaysian Prime Minister Najib Razak said in a statement.

"The Government is committed to seeing through the complete overhaul of MAS to its successful conclusion," added Najib, who also chairs Khazanah's board of directors.

Last month, MAS posted its worst quarterly loss since late 2011, as passenger numbers and average fare yields fell sharply following two successive disasters – of flight MH370 en route to China and the destruction of flight MH17 over Ukraine.

Trading in the airline's shares will be suspended from 15 December, the first step towards the struggling airline's delisting from the stock exchange as part of a US$1.8bn government-led restructuring.  www.malaysiaairlines.com

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