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TROUBLED MALAYSIA AIRLINES has picked the head of Aer Lingus, Christoph Mueller, as its future CEO as the airline struggles to recover from its two devastating disasters this year.
Mueller will take over by mid-2015, according to a statement from Khazanah Nasional, the Malaysia state investment fund that controls the ailing airline.
German citizen Mueller took the helm of Aer Lingus in 2009 and initiated a turnaround strategy that involved hefty job cuts. He previously occupied top positions at German flag carrier Lufthansa and the former Belgian carrier Sabena.
“Mr Mueller has a strong record of transformation and turnarounds in the aviation industry,” Khazanah said.
Among his key accomplishments, Mr Mueller has demonstrated particular strength in strategic and financial planning, as well as structural repositioning of companies in difficulties.
Khazanah has launched a rescue plan to save the national airline after the losses of flights MH370 and MH17 threatened to send it into bankruptcy.
The disasters compounded huge financial losses in recent years, which analysts have blamed on poor management, unwise business decisions, government meddling and a failure to meet the challenge of low-cost upstarts like Malaysia’s successful AirAsia.
The carrier’s poor business standing has left it ill-equipped to face the impact of the air disasters, which have severely dented passenger bookings.
Private
Khazanah, which owns around 70 percent of the carrier, plans to acquire all remaining shares and take the carrier private in a bid to resuscitate it.
Khazanah has already announced restructuring plans including pumping €1.40 billion into the airline, slashing 6,000 jobs — or 30 percent of its workforce — and trimming its route network.
Replacing its chief executive was also announced as a key priority.
Khazanah has been criticised in the past for picking CEOs who lacked aviation industry experience. Current boss Ahmad Jauhari Yahya came from an energy background.
Stocks plummeted
His stock plummeted in the aftermath of MH370, when the airline’s response to the disaster was severely criticised by passengers’ families as chaotic, secretive and insensitive.
Malaysia Airlines said Thursday that its shares would be suspended from the country’s stock exchange on December 15 as part of the rescue plan.
MH370 disappeared in March after inexplicably diverting from its Kuala Lumpur-Beijing course. The airliner, carrying 239 people, is believed to have crashed in the Indian Ocean, but no trace has been found.
MH17 went down in July in rebellion-torn eastern Ukraine — believed hit by a surface-to-air missile — killing all 298 aboard.
Malaysia Airlines previously had a solid safety record.
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They should do this with pensioners and knitting.
Given THC, the active ingredient in marijuana, the spider didn’t build a web, it built a hammock, where it lay all day and watched the caffeine spider go.
The crack cocaine spider figured building webs was for suckers, waited till the caffeine spider was exhausted, then came up behind it and popped a cap in its ass. Nice web, Mr. Crack Spider.
When winter came, the marijuana spider had no place to live, it ended up in the crack web as the crack spider’s bitch.
Ha ha!
I wonder what the Irish spider would do after a few pints of Guinness ? Probably a straight web to the pub !!
True story this;- ‘ The Roughty bar ‘ in Kenmare, – an American came in & ordered a pint of ‘ real Irish Guinness ‘, The barman was just topping the pint when a little spider fell off the tap, onto the head of the pint.
Barman puts pint up on the counter to the Yank,
Yank says “hey, I ain’t drinkin’ that, there’s a spider in it…!! ”
Barman says sorry, & flicks the spider off the head.
Yank says; ” hey, – I still ain’t drinkin’ that…!! ”
Barman says;- ” What the hell is wrong with you, – you won’t drink it with the spider, – you won’t drink it without the spider……!! “…
The spider in my house at the moment is on speed!! I knock the webs down and he’s coming along behind me building them back up! the little sh&te!
I recommend you squash him so..!
Innocent animal.
There is nothing innocent about spiders.
he’s on speed!!
Spiders kill flies, the real bad guys.
Don’t hate the player, hate the game.
That spider probably had a bad upbringing.
very true Kardia! there is a spider web that wouldn’t look out of place in spider Beverly Hills in my garden shed and he’s just waiting for those filthy blue bottles to arrive! he’s huge and I reckon he’s partial to the odd splif or two. he just sits there looking all chilled just waiting for his spider chicken bucket!
Ha ha
Was the marijuana web an actual web or an artist impression of what the spider said he would create some day?
I think, out of these, I’d rather have the Marijuana world thankyou :)
Scary, the world we have is probably the Caffeine one :(
On my second mug of coffee sa I raed Tihs :)
The house spider Tegenaria pictured doesn’t spin webs, instead it makes a funnel and attacks prey straying near the entrance. Coffee time.
Was this a World Wide experiment ?
Look it up on the web :P
I don’t know 1 Web developer who can get through the day without coffee.
My dream of setting up a web based business has just been shattered.
Jasus, and i drink about 6 cups of coffee a day in work. Its just as well im not expected to produce decent quality spiders webs. … I wonder would the quality of my output improve if i cut back on the coffee. …. Ummm … Food for thought.
Sitting on my bed looking in my mirror felt like little strands of my hair were itching my face when all of a sudden a huge fecker of a spider climbs over my mouth!!!!! Threw it across the room and nearly killed myself trying to get out of my bedroom at the same time!!! Didn’t see where it landed but I’m fully sure it’s waiting for revenge:(
And here I was thinking caffeine could improve performance, janey mac!
This is older than time
Now why would you want to interfere with them in the first place? Weird!
Sorry I have dabbled in my time but I hav never taken chloral hydrate or Benzedrine
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