Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Malaysia Airlines
Business
bankruptcy
Bloomberg
cannot recover
delisting
going bankrupt
going private
Khazanah National
Malayan Banking
Malaysia Airlines
MH17
privatization
two disasters in one year
Thursday, 24 July 2014 - 13:45
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Malaysia Airlines bankruptcy considered

Malaysia Airlines may become bankrupt after their second crash scandal within just four months rocks the airline to its foundations. The companies only remaining options seem to be delisting, according to sources from Bloomberg. The airline company is hatching a revival plan, which it plants to present to its state-run parent Khazanah Nasional Bhd. this week. According to sources, it's either go private or go bankrupt. Both of these plans would involve the name Malaysia Airlines being erased from flight schedules around the world. Being the name tied to the death of 537 people, and the loss of two planes since March is putting a strain on Malaysia Airlines for time, which Moshin Aziz from Malayan Banking Bhd. says is a luxury they don't have. "Malaysia Air doesn't have a huge balance sheet, it's still struggling from perception issues. We will probably see drastic measures", Aziz tells Bloomberg. Terence Fan says going private will be "killing a few birds with one stone" for Khazanah. "They can make the cash flow, maybe have some thorough strategic change and use this as a chance to rebrand themselves." According to Bloomberg, going bankrupt could out Malaysia Airlines at the highest loss of assets since AMR Corp. went bankrupt in 2011. Malaysia Airlines employees generated an average of $220,000 in revenue in the last three years, Bloomberg has calculated. Compared with $524,800 at Singapore Airlines and $245,000 at Thai Airways. "Even the strongest airlines would be falling on their knees on these two incidents", Moshin at Malayan Banking tells Bloomberg. A decision on this matter is expected as early as next month, sources say.

Follow us:

Latest stories

  • All train traffic halted to and from Amsterdam Central Station due to malfunction
  • New push to end voluntary parent cash contribution for elementary schools
  • Rush to mega lawsuit by Pensioen Voldoen: 50,000 victims join in to claim pension losses
  • Max Verstappen wins the Spanish Grand Prix
  • Students at TU Eindhoven find safe way to store hydrogen using iron pellets
  • Minister Dijkgraaf finds day off for Keti Koti "interesting idea"

Top stories

  • All train traffic halted to and from Amsterdam Central Station due to malfunction
  • Amsterdam apartment building uninhabitable after major fire
  • Marechaussee team investigating war crimes back from Ukraine
  • Hundreds of people take part in last day of " Rule of Law Week" in The Hague
  • Major fire in apartment building in Amsterdam, hundreds of residents unable to return home
  • Peru moves Joran van der Sloot for extradition to the US, disappearance of Natalee Holloway

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content