KUALA LUMPUR - Malaysia Airlines will cut 30 per cent of its
workforce as part of a restructuring that will cost 6 billion ringgit, majority
investor Khazanah Nasional said on Friday.
Khazanah said the carrier will trim its staff by 6,000 to
14,000 as it seeks to stem long-running losses worsened by two aircraft
disasters this year.
The state fund said the airline will be de-listed from the
Kuala Lumpur exchange by the end of 2014, adding that Ahmad Jauhari Yahya will
stay on as chief executive until July 2015.
Khazanah said it aims to return the airline to profitability
within three years of its de-listing, and plans to re-list the carrier in three
to five years from now.
On Thursday, MAS said its second-quarter net loss widened to
307 million ringgit from 176 million a year earlier, though the result was an
improvement from the net loss of 443 million ringgit in the first quarter.
Source:Agency
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