Malaysia Airlines recovers 2 years after MH370 disaster

Malaysia Airlines recovers 2 years after MH370 disaster

Malaysia Airlines is out of intensive care. Now it’s working on long-term rehabilitation.

Two years ago this week, disaster struck when Flight 370 vanished, leaving the company reeling from a crisis magnified months later by the downing of a second Boeing 777 over Ukraine.

Shunned by travelers and already ailing from years of mismanagement that saddled it with at least $1.7 billion in losses since 2011, the Southeast Asian airline teetered on the edge of bankruptcy, forcing its government owners to carry out radical restructuring.

New CEO Christoph Mueller, a turnaround veteran, has been scaling back or cutting unprofitable routes, grounding jets and axing 6,000 workers from a bloated workforce as part of a $1.7 billion overhaul aimed at returning the carrier to profitability as early as next year. Read more

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