THE latest process of turning ailing Malaysia Airlines around began on Feb 26, 2014, shortly after it announced its fourth consecutive quarterly loss for the financial year ended Dec 2013. The Government and Khazanah Nasional Bhd agreed that an independent review of the airline was necessary and engaged PricewaterhouseCoopers for the job.
Khazanah was given six months to come up with its rescue plan. Mere weeks later, MAS was rocked by the disappearance of MH370 in March, followed by the shooting down of MH17 last month. On Aug 26, exactly six months later, Khazanah submitted its turnaround plans to the Cabinet, which were approved on Thursday.
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