MAS confident of turnaround by 2018

Malaysia's loss-making national carrier Malaysia Airlines Bhd said on Monday that it was confident of breaking even by 2018 and weathering the fallout from the twin tragedies in 2014.

Christoph Mueller, the new chief executive of the company, said the carrier will cut jobs, sell surplus aircraft and refurbish its international fleet as part of a massive restructuring program.

Khazanah Nasional Berhad, the sovereign fund of Malaysia and the sole shareholder of Malaysia Airline System Berhad - the parent company of Malaysia Airlines - is working on a plan that would transform the ailing carrier into a new company with a new business model and management team, he said.