“we took the decision to pull it” (and make a fucking huge killing on the insurance!)
What you don’t know about Malaysia Airlines
- 4 months ago March 14, 2014
WITHIN an industry notorious for financial difficulties and irked customers, Malaysia Airlines has stood out for its years of restructurings and losses. The company now has global recognition of a far more unfavourable kind after one of its jets disappeared days ago with 239 people aboard.
There has been no suggestion that the unrelenting financial pressures faced by the airline and its 19,000 employees somehow played a role in the disappearance of flight MH370 en route from Kuala Lumpur to Beijing. But the revelation this week that the jet’s copilot allowed two female passengers to ride in the cockpit for the duration of a flight two years ago has invited scrutiny of the professionalism of top-level staff.
Struggling, Malaysian Airline may need government bailout
(Reuters) – Even before the loss of its Flight MH370, Malaysian Airline System (MAS) (MASM.KL) was bleeding cash, prompting talk that it may need another financial rescue from state investor Khazanah Nasional Bhd, its majority shareholder.
Malaysia Airlines Has Been Missing Profits for Years
Photograph by Charles Pertwee/Bloomberg
Long before one of its Boeing (BA) jumbo jets vanished into the tropical darkness, Malaysia Airlines was struggling to find its financial footing. The carrier has lost money for more than three years, beset by high costs, a proliferation of unprofitable new flying in its network, and two low-cost rivals at its home airport in Kuala Lumpur.