Malaysia Airlines set to replace CEO in revamp
Published on Aug 26, 2014 6:48 AM
Loss-making Malaysia Airlines (MAS) is set to replace its chief executive as part of a major overhaul after suffering twin air tragedies this year.
The national carrier will report on Thursday, after an eight-day delay, its earnings for the second quarter, a period sandwiched by the disappearance of MH370 in March and the downing of MH17 over Ukraine last month.
State investment fund Khazanah Nasional, which owns about 70 per cent of public-listed MAS, announced plans early this month to delist the company ahead of a period of restructuring to revive its fortunes.
Details of the revamp, set to include an overhaul of management, job cuts of up to 20 per cent of its 20,000 employees and the slashing of routes, may be unveiled along with what is expected to be woeful financial results.
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