Posted on July - 22 - 2011
Malaysia Airlines chairman quits
KUALA LUMPUR – LOSS-MAKING Malaysia Airlines said on Wednesday that its chairman Mohamed Munir Abdul Majid will leave the flag carrier as it restructures its top team in an effort to return to profit.
In a statement to the Kuala Lumpur stock exchange the airline said Mr Munir will leave his post on July 31 when his contract expires but did not provide reasons. He joined the board in August 2004.
The chairman’s departure comes almost three weeks after Bernard Francis, a senior general manager quit the airline.
Mr Francis, who had been at the carrier for nearly six years, handed in his resignation letter on July 3 about five months ahead of the expiry of his contract.
The pair’s departure comes after Malaysia Airlines posted a first quarter net loss due to rising fuel prices and a strengthening ringgit.
The Star newspaper said on July 8 that Tengku Azmil Zahruddin Raja Abdul Aziz, the airline’s managing director had sent an e-mail to the management team informing them a restructure was in the offing. — AFP
Similar Posts:
- MAS inks US$680m engine deal
- Asian shares close higher
- IAG raises expected cost savings from Iberia merger
- United Airlines delivers bags via FedEx in limited-time deal
- SIA names CEO of new low-cost carrier unit
