4. Malaysia Airlines plane being towed along runway
28 August 2014
5. Aviation analyst Mohshin Aziz at desk
6. Aziz typing
7. SOUNDBITE (English) Mohshin Aziz, Associate Director of research, equity markets at Maybank Investment Bank:
"It couldn't get any worse for Malaysia Airlines, basically at the last legs of survival, cash is running thin and losses that are coming out on a day-to-day basis is basically cutting its survival day-by-day."
27 August 2014
8. Malaysia Airlines sign at check in
9. Various of Malaysia Airlines check in counters
10. Empty check-in counter
11. Closed sign at check-in counter
12. Passengers queueing at check-in counter
28 August 2014
13. Aziz working with staff member
14. SOUNDBYTE (English) Mohshin Aziz, Associate Director of research, equity markets at Maybank Investment Bank:
"If they were to cut all of the European and north Asian routes, we're probably talking about easily one third of its entire network being clipped. And by that measure, a simplistic correlation, they probably have to get rid of one third of their workforce as well."
Malaysia is preparing to unveil the latest overhaul of its beleaguered state-owned airline, which is reeling from twin disasters months apart that killed hundreds of passengers.
Khazanah Nasional, the state investment company that owns 69 per cent of Malaysia Airlines, said in early August that it will announce details of the overhaul by the end of this month. Malaysian news reports said the announcement will come Friday.
Analysts expect Khazanah to slash jobs, drop money-losing routes to Europe and China, and replace top management.
Aviation analyst Mohshin Aziz said on Thursday that the company is on its "last legs" and that any attempt to cut routes to Europe and north Asia would mean a corresponding cut in staff as well.
A substantial revamp has long been likely for Malaysia Airlines, which was struggling with chronic financial problems even before it was hit by the double disasters this year.
Investigators continue to scour the southern Indian Ocean for Malaysia Airlines Flight 370 which severed contact with air traffic controllers and apparently veered far of course while en route from Kuala Lumpur to Beijing on 8 March with 239 people on board.
In July, 298 people were killed when Malaysia Airlines Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists.