Malaysia Airlines to cut capacity lay off staff, amid restructure — foxnews.com

Malaysia Airlines is starting a carrier-wide restructuring plan. (Reuters) Malaysia Airlines is laying off a third of staff and will cut fleet capacity by more than 10 percent as it implements a state-led restructuring program that includes aircraft and route reviews, employee contract negotiations, reports Reuters. Owner Khazanah Nasional Bhd announced Monday that by July 1 of this year, the airline will emerge as a new company in an attempt to put the old brand and its problems behind them, including two most recent tragedies— the disappearance of Flight MH370 in March and the shooting down of Flight MH17 over Ukraine in July of last year. The restructuring will be the first undertaken by the airline since the carrier became private in December.

Read More