Malaysia Airlines 'technically bankrupt', says CEO
June 2 , 2015
Malaysia Airlines’ new chief executive Christoph Mueller has said that the beleaguered carrier is “technically bankrupt.”
Mueller, who took over as boss in May, has announced a restructuring plan that will include around 6,000 job cuts.
The announcements come after two disasters in 2014 involving Malaysia Airlines planes — the disappearance of flight MH370 and the shooting down of MH17 over eastern Ukraine.
Mueller told mediapersons that the “decline of performance” of the airlines had “started long before the tragic events” of 2014.