Malaysia Airlines will soon be no more.
The airline is ‘technically bankrupt’, and will be completely rebranding before the end of the year.
Christoph Mueller, who became the new CEO in May this year, is also known as ‘The Terminator’ because of his ruthlessness with job cuts. His work has already begun, and he released a press statement explaining that the airline will be going under major changes during 2015.
Most would assume that the reason behind the company’s bankruptcy was the disappearance of flight MH370 (239 lives lost), then a suspected missile shooting flight MH17 down over Ukraine in July (298 lives lost). However, Mueller says the company’s financial problems started before last year’s tragedies:
“We are technically bankrupt and that decline of performance started long before the tragic events of 2014.”
There’s no known details yet about the rebranding of the company, but it is said that the airline is hoping to ‘stem the bleeding’ in 2015, starting with 6000 job cuts from the current staff of 20,000.
via BBC
Image: Jimin Lai via Getty Images
