In memo to staff, new Malaysia Airlines CEO says finances worse, airline to shrink to survive.
{{#rendered}} {{/rendered}}The new CEO of Malaysia Airlines says its financial situation is more challenging than anticipated and it will shrink in size as it tries to overcome a tarnished image with the travel industry and the public.
Malaysia Airlines was battered last year by double jet disasters. Its government owner has brought in a new CEO, former Aer Lingus chief Christoph Mueller, to oversee a turnaround.
In a memo, Mueller thanks Malaysia Airlines staff for a warm welcome but also notes part of the organization seem "depressed" and customers are saying that service is deteriorating.
{{#rendered}} {{/rendered}}Malaysia Airlines is moving ahead with a previously announced overhaul that will involve cutting its staff by 6,000.