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            october 18, 2018

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Indiaexportnews.com

Malaysia Airlines chairman to leave post by year-end

  10.10.2018    

Malaysia Airlines chairman Mohammed Nor Md Yusof intends to step down from his post by year-end, reports Bloomberg.
Following his departure from the state-owned carrier, one source said that Mr Mohammed Nor will focus on the role of chairman of Malaysian pilgrims fund Lembaga Tabung Haji, a position he acquired in July.
He joined the airline as chairman in August 2011. Previously, he held the role of managing director from 2001 to 2004.
Representatives for Malaysia Airlines and Khazanah declined to comment.
The airline has been attempting to turn its fortunes around since Khazanah Nasional took it private in 2014 after two tragic incidents - one of its planes vanished over the Indian Ocean and another was shot down over Ukraine.
While revenues have been rising over the past year, a pilot shortage, escalating fuel prices and foreign-exchange volatility have hindered growth, the firm revealed in August.
The pilgrims fund, which came under public scrutiny for its investments in recent years, had MYR63.6 billion (US$15.3 billion) of assets as of end 2016, according to the latest financial data on its website.



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