Boss of Mayalsia Airlines confirms the carrier is technically bankrupt
MALAYSIA Airlines is bankrupt, its recently appointed boss revealed yesterday.
“We are technically bankrupt,” said Christoph Mueller, the carrier’s chief executive at a news conference.
Mueller added that the bankruptcy was not solely down to tragedy befalling the airline.
“The decline of performance started long before the tragic events of 2014,” he said, referring to the mysterious loss of flight MH370, and the shooting down of flight MH17 over eastern Ukraine.
Mueller said that Malaysia Airlines will be “reducing aircraft size on certain routes, reducing frequency on certain routes, and in certain cases abandoning the route altogether.”
However, he confirmed that while the carrier would make those reductions to its international routes, it would not become a regional airline. “We will remain a full service international carrier connecting continents,” he said.
Last month the troubled airline brought in administrators to lead its restructuring. Yesterday was Mueller’s first public appearance since he was hired by them in May.