Malaysia Airlines will be de-listed, undergo 'complete overhaul' following two major tragedies


Following three straight years of losses — capped off by two high-profile disasters in less than five months — Malaysia Airlines will be de-listed and taken private, the Malaysian government announced Friday. The move had been expected, as ticket sales for Malaysia's national airline had plummeted following the tragedies of both Flight 370, which disappeared March 8, and Flight 17, which was shot down over Ukraine July 17.
Khazanah Nasional, a state investment fund, proposed a $436 million buy-out of the shares in the airline it does not own. This is expected to lead to a "complete overhaul" of the airline, including eliminating less popular routes, trimming payroll, and installing new management, Reuters reports.
In a statement, Khazanah Nasional said such a dramatic restructuring of the airline was the only way to save it. "Nothing less will be required in order to revive our national airline to be profitable as a commercial entity, and to serve its function as a critical national development agency," the statement read.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Malaysia Airlines employs nearly 20,000 people and has a 151-plane fleet.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kimberly Alters is the news editor at TheWeek.com. She is a graduate of the Medill School of Journalism at Northwestern University.
-
Book reviews: ‘Red Scare: Blacklists, McCarthyism, and the Making of Modern America’ and ‘How to End a Story: Collected Diaries, 1978–1998’
Feature A political ‘witch hunt’ and Helen Garner’s journal entries
By The Week US Published
-
The backlash against ChatGPT's Studio Ghibli filter
The Explainer The studio's charming style has become part of a nebulous social media trend
By Theara Coleman, The Week US Published
-
Why are student loan borrowers falling behind on payments?
Today's Big Question Delinquencies surge as the Trump administration upends the program
By Joel Mathis, The Week US Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber, The Week US Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans Published
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia Published
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia Published
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia, The Week US Published
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans Published