While there are plenty of struggling airlines,the one I probably feel worst for is Malaysia Airlines. The airline had already been losing money for years, and then they lost two Boeing 777 aircraft just months apart, and which is just about an unprecedented tragedy.
Probably the smartest thing the airline did in a while is hire Christoph Mueller as their CEO,who is known as one of the industry's best "crisis CEOs." He turned around Aer Lingus, and had a three year contract at Malaysia Airlines, and where he started as CEO on May 1,2015.
He has made radical changes to the airline, including huge layoffs, or transferring all assets to a current company,retiring the entire 777 fleet, installing a current longhaul business course product, and entering into a partnership with Emirates for longhaul flying,going dry on shorthaul flights, and much more.
Ultimately the changes are working, and because Malaysia turned their first monthly profit in years this February,and is still hoping to be profitable by 2018.
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Source: boardingarea.com