Malaysia
Airlines is to cut 6,000 staff as part of recovery plan after being hit by two
disasters this year.
The
reduction in staff numbers represents around 30% of its workforce of 20,000.
The
airline will become completely state owned, and a new chief executive will
eventually be put in place.
Investigators
continue to hunt for flight MH370, the Kuala Lumpur to Beijing flight which
went missing in March.
The
MH17 air crash in eastern Ukraine is also under investigation. The plane was
shot down on 17 July, with the loss of all 298 people on board.
The
recovery plan will cost about 6 billion Malaysian ringgit (£1.1bn, $1.9bn).
Khazanah
Nasional, the state investment company that owns a 69% stake in the troubled
firm, will take 100% ownership.
"The
combination of measures announced today will enable our national airline to be
revived," said Khazanah's managing director Azman Mokhtar.
"Success
is by no means guaranteed - while it is imperative that
