Home News Featured News TERROR IN THE SKY: What should do

TERROR IN THE SKY: What MAS should do




- Advertisement -

of bankruptcy has emerged as faces yet another crisis after was shot down over the skies of eastern Ukraine last week, barely four months after mysteriously disappeared from radar detection on its way to Beijing.

Will be the last straw to break the camel’s back?

has been on a steady decline and has not been “performing up to standards”, according to aviation analyst at Endau Analytics .

The national air carrier had accumulated losses of more than $1.3 billion over the last three years. And just a few days ago, on Jul 18, shares in Malaysia Airlines (MAS) plunged 18% in value in the first two hours of trading.

- Advertisement -

Yusof said the community has, for the past few years, viewed MAS negatively given its “poor financial track record” and “shoddy management”.

Before vanished earlier this year, competition with other budget carriers like AirAsia has already debilitated MAS’ market position and sapped away profits.

“MH370’s disappearance further reinforces the image of MAS as a poorly run carrier with deep-rooted legacy issues and widespread government interference,” he said.

“The latest incident will further aggravate the airline’s dismal reputation,” he added.

A total of 27 crew members were lost in the successive disasters which have occurred barely four months apart, leaving many others demoralized and traumatized by the cruelty of fate.

The time has come for MAS to decide where it is headed for the future, but there are few options left for MAS after this tragedy, according to Yusof.

“Privatization isn’t one of them as it’s been tried, tested and failed. The government will likely have to step in under the current precarious position as no investors are willing to take on such a hot potato.”

Currently, 64 per cent of the carrier belongs to state firm Khazanah Nasional.

“Our view is that MAS has a better chance of re-emerging as a stronger airline if it is allowed to close down and rebuild from scratch – what I would call creative destruction. It’s a far better option than allowing the airline to self-destruct.”

Please follow and like us:
- Advertisement -

Businessman gets back S$12.7m from ex-mistress but she keeps condo unit and car

Singapore — A wealthy businessman from China who plied his former mistress with gifts before and during their relationship has sued successfully to get back S$12.7 million he had transferred to her while they were together. Mr Xu Zhigang, who is married,...

LKY’s last will: Lee Suet Fern disagrees with 15-month suspension

Singapore — Lawyer Lee Suet Fern issued a statement on Friday (Nov 20) after it was announced that the Court of Three Judges had suspended her from practising for 15 months over her handling of the last will of her late...

Calvin Cheng points to social status of WP MPs Raeesah Khan and Jamus Lim

Singapore -- Former Nominated Member of Parliament (NMP) Calvin Cheng took to social media on Saturday (Nov 14) about a post by WP MP Raeesah Khan celebrating her birthday with her constituents and at home and another by MP Jamus Lim...
Please follow and like us:
Follow Me