Thursday December 14, 2017
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Malaysia Airlines becomes “technically bankrupt”, 6000 workers to be handed pink slips



By NewsGram Staff Writer

After suffering two major air disasters and being unable to cope with competition, Malaysia Airlines has become technically bankrupt.

The announcement was made by the company’s Chief Executive, Christoph Mueller, who in his first public appearance since being hired in May, said that around 6000 jobs would be lost due to the bankruptcy.

Speaking at a press conference, Mueller said, “We are technically bankrupt. The decline of performance started long before the tragic events of 2014.”

Mueller’s decision to shrink the airline’s workforce to 14,000 is not the first time that he has cut airline jobs.His restructuring work in Ireland’s Aer Lingus, Belgium’s Sabena and Germany’s Lufthansa has earned him the nickname, “The Terminator”.

Apart from regional competition that had eaten-into Malaysia Airline’s earnings, two air disasters last year, contributed to further losses.

In July, flight MH17 was shot down by a suspected ground-to-air missile over Ukraine, taking 298 lives. The investigation report is expected to be tabled by mid-2015.

Another Malaysian Airline air-plane, MH 370, with 239 passengers on board had disappeared on its way to Kuala Lampur from Beijing in May. The search for the missing airplane has already cost more than 26 million pounds but has yielded little result.

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Did Aliens hijack the Flight MH370 ?

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From a hijacking to an alien abduction, countless theories have arisen about the fate of the Malaysian airliner that disappeared nearly two years ago. With search crews just months away from finishing their thus-far fruitless sweep of a remote stretch of seabed where Malaysian Airlines Flight 370 is believed to have crashed, officials appear no closer…

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MH370 wreckage to be found in Australia’s search zone


Canberra:  Australia’s Foreign Minister Julie Bishop on Friday said that the wreckage from missing Malaysia Airlines flight 370 will be found in Australia’s search zone in the southern Indian Ocean.

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Bishop said this week’s news of debris washing up on Reunion Island off the east coast of Africa pointed to the wreckage being somewhere within the 120,000 square kilometer search area off the west coast of Australia, Xinhua reported.

“We at least seem to have some evidence that flight MH370 will be found, particularly in the search area that (Australia) has been focusing on,” she said.

Bishop said Australia has an important role in finding the jet, not only to provide closure to the families of those missing, but also to reinstate faith in civil aviation to those who travel frequently.

“We believe it is important for international civil aviation, generally, for us to determine what happened to this flight, as well as provide the opportunity for families of those on-board to have some closure,” she said.

MH370 went missing on March 8 last year with 239 people on-board, most of them Chinese nationals.

Bishop said Australia had pledged another $40 million US to the search, but calculating who was contributing what to the hunt was not the pertinent issue.

“This is one of the great aviation mysteries of our time, and for the purpose of safety, security, faith, and trust in the civil aviation system, we must do what we can to find MH370,” she told.


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Debris found on Reunion Island belongs to MH370



Kuala Lumpur: Verification has confirmed that the debris found on Reunion Island belongs to the missing Malaysian Airlines flight MH370, Malaysian Prime Minister Najib Razak announced here on Thursday.

“Today, 515 days since the plane disappeared, it is with a heavy heart that I must tell you that an international team of experts have conclusively confirmed that the aircraft debris found on Reunion Island is in indeed from MH370,” the prime minister was quoted as saying by Chinese media.

“We now have physical evidence that, as I announced on March 24 last year, flight MH370 tragically ended in the southern Indian Ocean,” Razak said.

The plane carrying 239 people veered off course while flying from Kuala Lumpur to Beijing in March 2014.