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A source familiar with is likely to dispense with Malaysian Airlines for about a quarter oftheir employees totaling 20 thousand employees in the context of a restructuring planimplemented by the airline, which incurred losses after exposure to the two disastersthis year.
The source, who requested anonymity, that the restructuring plan, which is expectedannouncement later this week include the cancellation of flights and cancel up to five orsix thousand jobs. The source was not authorized to discuss the plan publicly.
It is expected to announce the National Treasury Fund, which owns a majority stake inMalaysia Airlines restructuring plan on 28 August
The National Treasury, which owns 69.37 percent of the company, said earlier this month it would eliminate the inclusion of Malaysia Airlines in a deal worth 435 milliondollars.
The company announces the results of its Malaysian aviation for the second quarter of the year on August 28 / August which is expected to register an increase in losses.
The company is facing difficulties, given the decline in its activities since the disappearance of one of its planes in March / March, which paid for the worst quarterly performance in two years in the period from January to March
The problems worsened in July 17, when one of its planes was shot down over Ukraine, killing 298 people, all of them were on board. It is now expected to announce that the company's weak performance for the period from April to June due to cancellation ofbookings and declining revenues and rising costs, as analysts said.
The same was informed source told "Reuters" in July that the National Treasury plans todelist the shares of Malaysia Airlines, which suffered a net loss in the last three yearsand it would announce a restructuring plan at the end of August.
A spokesman for the National Treasury that he would not comment on speculation, while not possible to get immediate comment from officials of Malaysia Airlines.
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