Malaysia Airlines To Be Nationalised In Post-MH17 Rescue | HuffPost

Troubled Malaysia Airlines To Be Nationalised In Post-MH17 Rescue

Asa Bennett— The Huffington Post UK

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A Malaysia Airlines employee sits behind a closed ticket counter at the Kuala Lumpur International Airport in Sepang on July 20, 2014. Malaysia Airlines said it would offer full refunds to customers who want to cancel their tickets in the wake of the MH17 disaster, just months after the carrier suffered another blow when flight MH370 dissapeared. AFP PHOTO/ MANAN VATSYAYANA (Photo credit should read MANAN VATSYAYANA/AFP/Getty Images)

MANAN VATSYAYANA via Getty Images

The Malaysian government has stepped in to save Malaysia Airlines, which after the MH17 and MH370 disasters has been losing $2 million (£1.2m) a day.

Malaysia's government-owned investment company, Khazanah Nasional, has unveiled a 1.38 billion Malaysian ringgit (£256m) deal to take full control of the line, expanding on its current 69% stake. The process has seen Malaysia Airlines suspend its shares on the Kuala Lumpur stock exchange,

In the first step towards a "complete overhaul" of the carrier, Khazanah Nasional offered to buy the remaining part of Malaysia Airlines at 27 sen (5p) a share, marking a 29% premium on the carrer's average share price over the last three months.

"Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity," the fund said.

Analysis: Can Malaysia Airlines Survive Another Tragedy?

Some experts expressed scepticism at Khazanah's ability to turn around the ailing airline. Shukor Yusof, an analyst with Malaysia-based aviation consultancy Endau Analytics, told AFP: "I don't take comfort in Khazanah overhauling the sick airline. I am very sceptical about it."

Malaysia AIrlines has been left reeling after suffering two tragedies this year. The MH17 disaster, which resulted in 298 people losing their lives after a jet went down over eastern Ukraine near the Russian border, sent shock-waves through the markets, sending the price of gold - a marker of market volatility - soaring.

"I can't comprehend of anything they can do to save themselves," said Mohshin Aziz, an aviation analyst at Maybank Investment Bank in Kuala Lumpur. "Perception-wise it really hits home, it's very difficult to fight against negative perception."

“In the history of aviation there’s never been an airline that had to go through two huge disasters in the span of four months, so I don’t think there’s any historical evidence that they can get out of this," he told Dow Jones Newswires.

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Victims of Air Malaysia Flight MH17 in Ukraine

Victims of Air Malaysia Flight MH17(01 of74)

Richard Mayne pictured in April 2014 in Nepal.

Victims of Air Malaysia Flight MH17(02 of74)

Mo, Evie and Otis Maslin were on board MH17 along with their grandfather Nick Norris.

Victims of Air Malaysia Flight MH17(03 of74)

Ben Pocock who has been confirmed as one of the passengers.

Victims of Air Malaysia Flight MH17(04 of74)

Newcastle United fan John Alder, who was known as ‘The Undertaker’, is believed to have been making his way to New Zealand to watch the Magpies on their pre-season tour (credit:Paul Blacklock)

Victims of Air Malaysia Flight MH17(05 of74)

Newcastle United football fan Liam Sweeney who was believed to have been on his way to watch this beloved team's pre-season tour

Victims of Air Malaysia Flight MH17(06 of74)

Robert Ayley

Victims of Air Malaysia Flight MH17(07 of74)

Stephen Anderson

Victims of Air Malaysia Flight MH17(08 of74)

Mo, Evie and Otis Maslin were on board MH17 along with their grandfather Nick Norris.

Victims of Air Malaysia Flight MH17(09 of74)

Elaine Teoh

Victims of Air Malaysia Flight MH17(10 of74)

German woman Fatima Dyczynski, 24, was one of four Germans on #MH17.

Victims of Air Malaysia Flight MH17(11 of74)

Emiel Mahler

Victims of Air Malaysia Flight MH17(12 of74)

Roger Guard

Victims of Air Malaysia Flight MH17(13 of74)

Jill Guard

Victims of Air Malaysia Flight MH17(14 of74)

Sister Philomene Tiernan

Victims of Air Malaysia Flight MH17(15 of74)

Nick Norris

Victims of Air Malaysia Flight MH17(16 of74)

Joep Lange

Victims of Air Malaysia Flight MH17(17 of74)

Glenn Thomas from Blackpool who has been killed in Malaysian air disaster flight MH17 over the Ukraine.

Victims of Air Malaysia Flight MH17(18 of74)

Elaine Teoh and her long-time boyfriend Emiel Mahler, who both died on flight MH17.

Victims of Air Malaysia Flight MH17(19 of74)

Albert and Maree Rizk who are believed to be among the Australians killed in the crash.

Victims of Air Malaysia Flight MH17(20 of74)

Gerry and Mary Menke were killed on the flight

Victims of Air Malaysia Flight MH17(21 of74)

Martine de Schutter

Victims of Air Malaysia Flight MH17(22 of74)

Pim de Kuijer

Victims of Air Malaysia Flight MH17(23 of74)

Helena Sidelik, who died aboard MH17

Victims of Air Malaysia Flight MH17(24 of74)

Azrina Binti Yakob was also on board the Boeing 777

Victims of Air Malaysia Flight MH17(25 of74)

Angeline Premila was reportedly on the Malaysian Airline flight MH17

Victims of Air Malaysia Flight MH17(26 of74)

Flight steward Sanjid Singh,

Victims of Air Malaysia Flight MH17(27 of74)

Liliane Derden

Victims of Air Malaysia Flight MH17(28 of74)

Pilot Eugene Choo Jin Leong was flying Air Malaysia MH17

Victims of Air Malaysia Flight MH17(29 of74)

Frankie and Liam Davison.

Victims of Air Malaysia Flight MH17(30 of74)

Regis Crolla posted an image Instagram, with the comment "AMS --> Kuala Lumpur --> Bali."

Victims of Air Malaysia Flight MH17(31 of74)

Cor Pan (left) and his partner Neeltje Tol

Victims of Air Malaysia Flight MH17(32 of74)

Chief stewardess Dora Shahila Binti Kassim

Victims of Air Malaysia Flight MH17(33 of74)

Shazana Salleh who was also reportedly a flight attendant on board the flight

Victims of Air Malaysia Flight MH17(34 of74)

Yuli Hastini, John Paulissen and their two children Arjuna and Sri who were on board the Air Malaysia flight

Victims of Air Malaysia Flight MH17(35 of74)

Wayne Sujana is believed to be missing

Victims of Air Malaysia Flight MH17(36 of74)

Ninik Yuriani was reportedly on a trip back to Central Java

Victims of Air Malaysia Flight MH17(37 of74)

Dutch passengers Astrid Hornikx and Bart Lambregts

Victims of Air Malaysia Flight MH17(38 of74)

24-year-old Ontario medical student Andrei Anghel was among the 298 people killed when a Malaysia Airlines plane was downed over Ukraine

Victims of Air Malaysia Flight MH17(39 of74)

Karlijn Keijzer was a 25-year-old doctoral student in the chemistry department at the Indiana University College of Arts and Sciences.

Victims of Air Malaysia Flight MH17(40 of74)

Hendry Se in this handout photograph released on July 18, 2014 by the family of Hendry Se, an Indonesian passenger on the crashed Malaysia Airlines flight MH17, shows Henrdy at her graduation.

Victims of Air Malaysia Flight MH17(41 of74)

Howard and Susan Horder

Victims of Air Malaysia Flight MH17(42 of74)

Pim de Kuijer

Victims of Air Malaysia Flight MH17(43 of74)

Quinn Lucas Schansman was reportedly on his way to a family vacation in Malaysia.

Victims of Air Malaysia Flight MH17(44 of74)

Emma Bell

Victims of Air Malaysia Flight MH17(45 of74)

Wan Amran Wan Husin

Victims of Air Malaysia Flight MH17(46 of74)

Gary Slok and his mother Petra posed for the photo aboard Flight MH17 hours before the plane was allegedly shot down and crashed.

Victims of Air Malaysia Flight MH17(47 of74)

Sydney-based kindergarten teacher Gabriele Lauschet (right) has been identified as NSW's sixth victim on flight MH17

Victims of Air Malaysia Flight MH17(48 of74)

Dutch language teacher Dafne Nieveen was killed while flying home to Perth

Victims of Air Malaysia Flight MH17(49 of74)

Victor Oreshkin

Victims of Air Malaysia Flight MH17(50 of74)

Arjen Ryder and wife Yvonne from Albany, Queensland, were travelling together

Victims of Air Malaysia Flight MH17(51 of74)

Marie Rizk was travelling with her husband on board MH17

Victims of Air Malaysia Flight MH17(52 of74)

Recently retired couple Wayne and Theresa Baker

Victims of Air Malaysia Flight MH17(53 of74)

Edel Mahady was returning to Perth for the start of the school term at Good Shepherd Catholic Primary School, Kelmscott

Victims of Air Malaysia Flight MH17(54 of74)

Shaliza Dewal and her Dutch husband Hans Van Den Hende were travelling from Amsterdam to Kuala Lumpur with their three children, Piers, 15, Marnix, 12, and daughter Margaux, 8

Victims of Air Malaysia Flight MH17(55 of74)

Michael and Carol Clancy

Victims of Air Malaysia Flight MH17(56 of74)

Gary Lee ran a Chinese restaurant while his wife Mona who was a schoolteacher

Victims of Air Malaysia Flight MH17(57 of74)

A photograph of Indonesian man Wayan Sujana of Bali, believed to be missing on Air Malaysia flight MH17, is fixed to the ticketing desk of Air Malaysia at Schiphol Airport on July 18, 2014 in Amsterdam, Netherlands. (Photo by Christopher Furlong/Getty Images)

Victims of Air Malaysia Flight MH17(58 of74)

Dutchman Itamar Avnon was on a trip to Israel for a wedding and stopped over in Amsterdam to visit friends

Victims of Air Malaysia Flight MH17(59 of74)

Melbourne-based IT security consultant Marco Grippeling

Victims of Air Malaysia Flight MH17(60 of74)

Jack O'Brien of Sydney, was 25.

Victims of Air Malaysia Flight MH17(61 of74)

Elsemiek de Borst

Victims of Air Malaysia Flight MH17(62 of74)

Bryce Fredriksz and his girlfriend, Daisy Oehlers, were killed in the Malaysia Airlines 17 flight disaster.

Victims of Air Malaysia Flight MH17(63 of74)

Angeline Premila Rajandran

Victims of Air Malaysia Flight MH17(64 of74)

Jennifer van der Leij

Victims of Air Malaysia Flight MH17(65 of74)

Andrew Hoare with wife Estella and sons Jasper and Friso

Victims of Air Malaysia Flight MH17(66 of74)

This June 26, 2014 family photo released by Ross Campbell, shows Sue Campbell, left, Ross Campbell, Albert Rizk, second from right, and Maree Rizk, right, while they are on holiday in Florence, Italy. Albert and Maree Rizk died in the downed Malaysia Airlines Flight 17. (AP Photo/Ross Campbell) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(67 of74)

In this Monday, July 21, 2014 photo, candles are lit next to a portrait of Irene Gunawan, one of three Filipinos who died in the Malaysia Airlines Flight 17 downed over in eastern Ukraine, on an improvised altar prior to a novena prayer at her clan residence at Pagbilao township, Quezon province south of Manila, Philippines. Irene, her two children and her Indonesian husband Budy, were killed along with 294 others onboard the flight. (AP Photo/Jim Gomez) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(68 of74)

In this undated photo released by the Calehr family, Samira Calehr, left, poses with her son Shaka Panduwinata. Shaka Panduwinata and his brother Miguel Panduwinata, were killed aboard Malaysia Airlines Flight 17, which was shot down over eastern Ukraine. (AP Photo/The Calehr family) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(69 of74)

In this undated photo released by the Calehr family, Miguel Panduwinata, left, Mika Panduwinata, Samira Calehr, second from right, and Shaka Panduwinata, right, pose for a photo. Shaka Panduwinata and his brother Miguel Panduwinata were killed aboard Malaysia Airlines Flight 17, which was shot down over eastern Ukraine. (AP Photo/The Calehr family) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(70 of74)

In this July 2011 photo provided by Ron Peter Pabellon, Irene Gunawan poses with her son Darryl at a resort in her Philippine hometown of Pagbilao, Quezon province, while attending a family reunion with her husband Budy, who is of Indonesian descent, and daughter Sherryl. The Gunawan family, which was based in the Netherlands, was heading to the Philippines for another reunion when their Malaysia Airlines Flight 17 was believed to have been shot down over Ukraine. All 298 passengers and crew were killed. (AP Photo/Ron Peter Pabellon) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(71 of74)

This 2011 family reunion photo provided by the Pabellon family, shows Irene Gunawan, second from left in back row, her Indonesian husband Budy, right in front row, and their children Darryl, second from left in front row, and Sherryl, fifth from left, in back row, with their relatives in Pagbilao township, Quezon province, south of Manila, Philippines. Irene, her two children and her Indonesian husband Budy were killed along with 294 others onboard Malaysia Airlines Flight 17 which crashed over eastern Ukraine. (AP Photo/Pabellon family) (credit:ASSOCIATED PRESS)

Victims of Air Malaysia Flight MH17(72 of74)

In this undated photo released by the Calehr family, Miguel Panduwinata poses for a photo. Miguel and his brother Shaka Panduwinata were killed aboard Malaysia Airlines Flight 17, which was shot down over eastern Ukraine. (AP Photo/The Calehr family) (credit:ASSOCIATED PRESS)

(73 of74)

Cameron Dalziel was one of the victims of MH17 pictured with wife Reine

(74 of74)

Shuba Jaya, and her Dutch filmmaker-husband Paul Goes with their daughter, Kaela, were among the 298 people onboard Malaysia Airlines flight MH17

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