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Could this be the end for Malaysian Airlines?
Following two of the worst air tragedies in recent years, the shadow cast over Malaysian Airlines is growing ever darker. A photo posted on Twitter claiming to show a Malaysia Airlines flight from Australia shows rows and rows of empty seats are seen, with just three passengers visible.
- After MH370 and M17 tragedies passengers tweet photos from empty cabins
- Airline facing extreme financial stress and total overhaul by state investors
- Details of the revamp said to involve a name change, job cuts and new CEO
Following two of the worst air tragedies in recent years, the shadow cast over Malaysian Airlines is growing ever darker. A photo posted on Twitter claiming to show a Malaysia Airlines flight from Australia shows rows and rows of empty seats are seen, with just three passengers visible.
Another showed a young family enjoying the whole plane to themselves. The carrier is rumoured to be ready replace its chief executive as part of a major overhaul, and is expected to announce this week, its earnings for the period between the disappearance of MH370 in March and the downing of MH17 over Ukraine in July.
Around half of the airline's employees are represented by the National Union of Flight Attendants Malaysia, which has halted previous reform. Earlier this month, state investors Khazanah Nasional announced that they were offering to buy out the 31 per cent of the airline stock it does not already own.In a statement, the airline said, we have received notice of Khazanah’s intentions to take full ownership and delist Malaysia Airlines. Our Board of Directors will be deliberating this proposal and an official response from the company will be issued later. During this period, our business operations remain unchanged.
The airline is said to be losing vast amounts of cash at a rate of around £1.3m ($2.16m) per day as it struggles to survive, with bookings at an all time low. In a bid to boost bookings, the airline has nearly doubled the commission for travel agents in Australia from 6 per cent to 11 per cent for flights.
It is also thought that they will employ Idris Jala, one of the country’s top economic policymakers, and the chief of the Malaysian government’s Economic Transformation Program. Some analysts say the airline is unlikely to survive a year without a cash injection from the Malaysian government.
