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Wed, Dec 10, 2014

Former Aer Lingus CEO Moves To Malaysia Airlines

Will Try To Rebuild The Carrier After A Very Bad Year

The former CEO of Aer Lingus has accepted the position as the head of Malaysia Airlines that has seen a dramatic slump in passenger confidence. Christopher Mueller's task is to turn around an airline that lost two planes and 537 lives in 2014, and put the carrier on a path to profitability.

The Irish Times reports that Mueller will have to cut some 6,000 jobs from the airline as part of a $1.7 billion restructuring package devised by the Malaysian government.

Mueller was a turnaround agent for Aer Lingus, making it competitive with budget carrier Ryanair. Malaysia Air is in a similar competitive situation with AirAisa Bhd., a major low-cost carrier in the region.

Malaysia Air's majority investor Khazanah Nasional Bhd., said in recent statement that Mueller will lead a new company being spun out of the publicly traded Malaysian Airline System Bhd. He is expected to take his new post as early as March 1st, according to that statement.

FMI: www.khazanah.com

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