Atlas 1 Posted August 8, 2014 Share Posted August 8, 2014 Malaysia Airlines will be taken off the stock market as part of a government bid to rescue the troubled company. State investor Khazanah, which owns nearly 70% of the airline, is planning to buy out small shareholders as a first step to overhauling the national carrier. The fund said it would announce more details by the end of August. "The proposed restructuring will critically require all parties to work closely together to undertake what will be a complete overhaul," it said in a statement. Shareholders will vote on the plan at an extraordinary general meeting. Meanwhile, Malaysia Airlines will continue to operate all current flights. After taking the business private, management could sell assets such as Firefly, its budget unit. Related: 3 things Malaysia Airlines must do to survive Malaysia Airlines was in big financial trouble before the twin disasters of Flight 370 and Flight 17 claimed the lives of 537 people. Those tragedies would force changes to the way the company operates, Malaysian Prime Minister Najib Razak said. "We believe our national carrier must be renewed," he said. "This means wholesale change, to deliver a wholly different outcome." The airline was once a symbol of national pride. But it hadn't turned a profit in years, efforts to compete with low-cost carriers had failed, and the need for yet another government bailout was growing. Analysts have long argued that Malaysia Airlines needed to slim down, and drop flashier features of a flag carrier. For example, the airline could operate fewer full-service flights and increase seat counts. MH17 was shot out of the sky in July, over territory that's controlled by pro-Russian militants battling the Ukraine government. The United States says a surface-to-air missile took down the plane. In March, Malaysia Airlines Flight 370 disappeared with 239 people on board. No trace of the plane has been found. http://money.cnn.com/2014/08/07/news/malaysia-airlines/index.html?hpt=hp_t2 I feel so sorry :( I mean, no one knows about MH370 but MH17 definitely wasn't their fault, they should sue Russia or something Link to post Share on other sites More sharing options...
MJHolland 12,725 Posted August 8, 2014 Share Posted August 8, 2014 I read that this morning on the NY Post and I was like "Hmm, figures!" Idk about everyone else but I certainly won't be flying Malaysia anytime soon! They need to do some drastic image repair under the radar and come back completely rebranded tbh They should call Kobe Bryant's manager, heck everybody loves him now even though he raped a girl, and all they did was change his number! Link to post Share on other sites More sharing options...
Vernier 3,786 Posted August 8, 2014 Share Posted August 8, 2014 While those incidents are unfortunate, the airline can't blame those alone. Like the article said even before those disasters, the airline had been struggling with losses for a while and was one of the worst performing airline financial wise. So a complete overhaul like they're planning now might have been necessary anyways, but those incidents just sped up the need to do it Frankly my dear, I don't give a damn Link to post Share on other sites More sharing options...
Better Day 5,766 Posted August 8, 2014 Share Posted August 8, 2014 They should pull every airline. They will never have my business again. After 3 crashes this year alone, I will never be on another plane Together You And I! Link to post Share on other sites More sharing options...
Mr Josh 3 Posted August 9, 2014 Share Posted August 9, 2014 They should pull every airline. They will never have my business again. After 3 crashes this year alone, I will never be on another plane 12 in 2013, 12 in 2012, 24 in 2011, 27 in 2010. Out of what, 20 million flights every year? In fact 2012 and 2013 were the safest years in aviation since 1945. 475 fatalities from plane accidents in 2012. About 32k fatalities from car crashes in the US alone. Link to post Share on other sites More sharing options...
Adakam 2 Posted August 9, 2014 Share Posted August 9, 2014 12 in 2013, 12 in 2012, 24 in 2011, 27 in 2010. Out of what, 20 million flights every year? In fact 2012 and 2013 were the safest years in aviation since 1945. 475 fatalities from plane accidents in 2012. About 32k fatalities from car crashes in the US alone. also found this According to the International Air Transport Association (IATA) in 2010 we had 2,400 million persons flying in 36,800,000 flights around the globe. It gives us a total of 65 persons per flight and thus 6,575,343 persons flying per day. As every flight spends about 3 hours on air (the average), just now, when you are reading this post, there should be around 821,917 persons flying over the skies. the probability of being on an airplane accident is extremely low, theres nothing to be afraid of Link to post Share on other sites More sharing options...
Maleficent 6 Posted August 9, 2014 Share Posted August 9, 2014 They should pull every airline. They will never have my business again. After 3 crashes this year alone, I will never be on another plane I'm not afraid of flying. I'm afraid of suddenly not flying. Link to post Share on other sites More sharing options...
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