Rebuilding A National Icon The MAS Recovery Plan
Rebuilding A National Icon The MAS Recovery Plan n
29 AUGUST 2014
2
MH370
In loving memory to those still missing and those departed on MH370 and MH17.
Al-Fatihah and our prayers are with you.
MAS is more than just a company; it is a critical enabler of national development and a national icon.
…
But it must be anchored on operational excellence, financial sustainability, and the prudent use of public funds.
…
We owe this to MAS customers and staff, our shareholder and stakeholders, and to the Rakyat of Malaysia.
Table of CONTENTS
>1
Message from the Prime Minister
>2
Message from the Chairman of MAS, the
Nominated Representative of the Special
Shareholder, Minister of Finance, Incorporated
>3
Message from the Managing Director,
Khazanah Nasional Berhad
>5
Preamble
> 7
Executive Summary
> 14
The Context:
Challenges and Strengths
> 20
The Task:
A Complete Overhaul
> 22
The Recovery Plan:
12 Distinctive Features
> 31
Closing Ranks:
A National Compact
> 36
The Future:
MAS@2020
i
1
MESSAGE FROM THE PRIME MINISTER
On 8th August, I called on all parties to work together in support of a comprehensive and holistic restructuring plan for Malaysia
Airlines – the first step needed to return our national carrier to profitability. I believed then – as I do today –that MAS is part of Malaysia’s history. It is a symbol of national pride, of our ambitions and our place in the world. In short, it is more than just a company to us.
So as we prepare for our 57th Merdeka Day, I welcome the unveiling of “Rebuilding a National Icon – the MAS Recovery
Plan”.
Today’s announcement marks the first step towards ensuring that our national carrier is part of Malaysia’s future. Only wholesale change will deliver a genuinely strong and sustainable Malaysia Airlines. If we seek a different outcome from past experiences, we must have the courage to choose a different method. Piecemeal change will not work.
“MAS is part of Malaysia’s history. It is
29 AUGUST 2014
2
MH370
In loving memory to those still missing and those departed on MH370 and MH17.
Al-Fatihah and our prayers are with you.
MAS is more than just a company; it is a critical enabler of national development and a national icon.
…
But it must be anchored on operational excellence, financial sustainability, and the prudent use of public funds.
…
We owe this to MAS customers and staff, our shareholder and stakeholders, and to the Rakyat of Malaysia.
Table of CONTENTS
>1
Message from the Prime Minister
>2
Message from the Chairman of MAS, the
Nominated Representative of the Special
Shareholder, Minister of Finance, Incorporated
>3
Message from the Managing Director,
Khazanah Nasional Berhad
>5
Preamble
> 7
Executive Summary
> 14
The Context:
Challenges and Strengths
> 20
The Task:
A Complete Overhaul
> 22
The Recovery Plan:
12 Distinctive Features
> 31
Closing Ranks:
A National Compact
> 36
The Future:
MAS@2020
i
1
MESSAGE FROM THE PRIME MINISTER
On 8th August, I called on all parties to work together in support of a comprehensive and holistic restructuring plan for Malaysia
Airlines – the first step needed to return our national carrier to profitability. I believed then – as I do today –that MAS is part of Malaysia’s history. It is a symbol of national pride, of our ambitions and our place in the world. In short, it is more than just a company to us.
So as we prepare for our 57th Merdeka Day, I welcome the unveiling of “Rebuilding a National Icon – the MAS Recovery
Plan”.
Today’s announcement marks the first step towards ensuring that our national carrier is part of Malaysia’s future. Only wholesale change will deliver a genuinely strong and sustainable Malaysia Airlines. If we seek a different outcome from past experiences, we must have the courage to choose a different method. Piecemeal change will not work.
“MAS is part of Malaysia’s history. It is