MAS going private for total overhaul

[Lite Beer]

MAS going private for total overhaul

 

In the boldest move yet to overhaul the ailing Malaysia Airlines (MAS), the Malaysian government has decided to bite the bullet by taking the national carrier private to enable a massive restructuring move.

 

It will be delisted from Bursa Malaysia in a corporate exercise that will shield the airline from public glare as it carries out painful measures, including job cuts of its 20,000 workers, downsizing of operations and renegotiation of contracts.

Prime Minister Datuk Seri NajibTunRazak said the national carrier had to undergo wholesale change to deliver a wholly different outcome. “Only through a complete overhaul of the company can we deliver a genuinely strong and sustainable national carrier. Piecemeal changes will not work,” he said.

Previous moves to restructure MAS had met with firm resistance from workers’ unions as well as politicians. This time around, KhazanahNasionalBhd, the largest shareholder with nearly 70% stake, has the blessings of the Government and the National Union of Flight Attendants (Nufam).

Khazanah, the Government’s strategic investment fund, announced that it had submitted a formal request to MAS’ board of directors to buy out the remaining shares.

MAS’ financial problems have been compounded by the twin tragedies of Flight MH370 and Flight MH17.

Prior to these incidents, MAS had one of the world’s best safety records with just two fatal accidents in nearly 70 years of operations.

 

Source: http://englishnews.thaipbs.or.th/mas-going-private-total-overhaul/?utm_source=rss&utm_medium=rss&utm_campaign=mas-going-private-total-overhaul

 

[thaipbs]2014-08-09[/thaipbs]

[ukrules]

A move to Airbus or anything other than the 777 wouldn't hurt their image either.

Edited August 9, 2014 by ukrules

[neverdie]

A move to Airbus or anything other than the 777 wouldn't hurt their image either.

40% of there passenger fleet is already Airbus.
66% of their freighters are Airbus.

Of their Boeing a/c only 13 of the 31 a/c are 777's.

I'm not sure acquiring anymore Airbus is going to change their position that much and the fact that they had two aircraft suspiciously removed from the sky probably had little bearing on whether the were one brand or the other......and I believe most people understand that.....despite the jury being out on MH370......

It would be sad to see an excellent airline like MAS go to the wall. Start booking ur tickets people, surely lightening couldn't strike three times ? 😕😧🙀

[frankybaby]

Re MH370, Diego Garcia knows where it is !

[frankybaby]

there was something on MH370 that was not supposed to reach its destination

same of the Air Algerie crash, someone on board was not supposed to reach destination

ask CIA or MOSSAD

[Scott]

Let's please dispense with a rehash of conspiracy theories.  

[laobali]

The powers that be might consider a similar restructuring for THAI.

[kamahele]

A move to Airbus or anything other than the 777 wouldn't hurt their image either.

A move away from one of the safest aircraft designs in the world because they lost one and one was shot down? I think their problems have nothing to do with the aircraft type.