By Chan Quan Min
The national airline has refuted rumours of a speculated ‘reboot’ of its operations that might involve filing for bankruptcy.
“Malaysia Airlines reiterates that the national carrier will not shut down its operations on May 28, 2014 as rumoured,” the airline said in a terse statement today.
The statement referred to “articles” allegedly “written based on quotes from unofficial sources” and said the publication of such articles have caused “anxiety amongst its passengers.”
Inside sources told KiniBiz an unsubstantiated rumour has been circulating among Malaysia Airlines employees of the airline shutting down operations for one day before starting over the next day on a clean slate under a new company.
“We are running business as usual, and passengers should not worry,” Malaysia Airlines CEO Ahmad Jauhari Yahya reassured.
“Despite the rumour, we maintain our commitment to remain competitive, with greater marketing push. For example, the current Malaysia Airlines Travel Fair allows travelers to purchase our tickets at 50% off for immediate travel until Dec 31, 2014.”
Malaysia Airlines last week announced it was reviewing its business plan, which is likely to lead to a corporate restructuring of the unprofitable state-owned airline.
After Malaysia Airlines posted deeper first quarter losses, Jauhari admitted his turnaround plan for profitability by end-2014 is “probably not achievable.”
Malaysian Airline System Bhd was Bursa Malaysia most active stock in the morning trading session with 102.5 million shares changing hands out of 7.1 billion free float shares. The share price at the mid-day close was 17 sen down half a sen.
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