Malaysia Airlines: Rebirth and new beginning
The Malaysian government on September 1 has given the go-ahead for a rebranded national airline after a series of disasters and public relations incidents. Following the granting of an Air Operator Certificate from state regulators, the company now can start as a new carrier, Malaysia Airlines Berhad (MAB), after it has been renamed from Malaysia Airline System (MAS).
This was the latest stage in a process started in August last year when the Malaysian government resumed total ownership of the carrier and removed it from the country’s stock exchange in order to conduct a “complete overhaul” of its operations with the help of German airline turnaround specialist Christoph Mueller hired from Air Lingus.
“This is an important milestone in the evolution of Malaysia’s national airline. The government of Malaysia is committed to ensure that the rejuvenated Malaysia Airlines will take off on a strong note,” said Malaysia transport minister Liow Tiong Lai.
“This is a start of a new beginning,” said MAB Chairman Tan Sri Md Nor Yusof.
Malaysia Airlines has racked up debts approaching $1.5 billion since 2011, with a dire situation worsened by last year’s twin tragedies of the disappearance of flight MH370 and the shooting down of MH17. See infographic here.
The airline was nationalised in late 2014 by Malaysia’s government-owned investment arm Khazanah Nasional, which has pledged a $1.6 billion injection to fund the dramatic restructure aimed at returning the airline to profitability by 2017.
The airline, which was courting bankruptcy long before the loss of flights MH370 and MH17, will look to streamline its offerings and is set to rehire only 14,000 of MAS’ former 20,000 employees.
[caption id="attachment_26448" align="alignleft" width="300"] New colour scheme for rebranded Malaysia Airlines[/caption] The Malaysian government on September 1 has given the go-ahead for a rebranded national airline after a series of disasters and public relations incidents. Following the granting of an Air Operator Certificate from state regulators, the company now can start as a new carrier, Malaysia Airlines Berhad (MAB), after it has been renamed from Malaysia Airline System (MAS). This was the latest stage in a process started in August last year when the Malaysian government resumed total ownership of the carrier and removed it from the country's stock exchange in...
The Malaysian government on September 1 has given the go-ahead for a rebranded national airline after a series of disasters and public relations incidents. Following the granting of an Air Operator Certificate from state regulators, the company now can start as a new carrier, Malaysia Airlines Berhad (MAB), after it has been renamed from Malaysia Airline System (MAS).
This was the latest stage in a process started in August last year when the Malaysian government resumed total ownership of the carrier and removed it from the country’s stock exchange in order to conduct a “complete overhaul” of its operations with the help of German airline turnaround specialist Christoph Mueller hired from Air Lingus.
“This is an important milestone in the evolution of Malaysia’s national airline. The government of Malaysia is committed to ensure that the rejuvenated Malaysia Airlines will take off on a strong note,” said Malaysia transport minister Liow Tiong Lai.
“This is a start of a new beginning,” said MAB Chairman Tan Sri Md Nor Yusof.
Malaysia Airlines has racked up debts approaching $1.5 billion since 2011, with a dire situation worsened by last year’s twin tragedies of the disappearance of flight MH370 and the shooting down of MH17. See infographic here.
The airline was nationalised in late 2014 by Malaysia’s government-owned investment arm Khazanah Nasional, which has pledged a $1.6 billion injection to fund the dramatic restructure aimed at returning the airline to profitability by 2017.
The airline, which was courting bankruptcy long before the loss of flights MH370 and MH17, will look to streamline its offerings and is set to rehire only 14,000 of MAS’ former 20,000 employees.
