KUALA LUMPUR, Malaysia (AP) — After a year of calamity, Malaysia Airlines is shrinking to survive.
The disappearance of Flight 370 one year ago, combined with the downing of Flight 17 over a rebel held area of eastern Ukraine four months later, brought the already financially struggling flag carrier to its knees.
The government, which owned most of the airline, took 100 percent ownership and removed it from the Malaysian stock exchange last year. The airline is now aiming to return to profitability by 2017 with a drastic $1.7 billion overhaul that includes cutting nearly a third of its staff.
Key to the …read more
Source: KXAN
