(MENAFN- Khaleej Times) The overhaul and new investment in the carrier will cost about 6 billion Malaysian ringgit ($1.Malaysia Airlines will cut 6000 workers as part of an overhaul announced on Friday to revive its damaged brand after being hit by double passenger jet disasters.
The staff reduction represents about 30 percent of its current workforce of 20000.
Khazanah Nasional the state investment company that owns 69 percent of the airline said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.
The overhaul and new investment in the carrier will cost about 6 billion Malaysian ringgit ($1.9 billion).
The airline will be taken completely under the wing of the government. Khazanah previously announced that it plans to take 100 percent ownership.
Investigators continue to scour the southern Indian Ocean for Flight 370 which veered far of course while en route from Kuala Lumpur to Beijing on March 8 with 239 people on board. In July 298 people were killed when Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists. For more news from Khaleej Times follow us on Facebook at facebook.com/khaleejtimes and on Twitter at khaleejtimes Follow khaleejtimes ->
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