Malaysia Airlines Axes 6,000 Jobs after MH370 Disappearance and MH17 Disaster

Malaysia Airlines plans to axe 6,000 as part of a recovery plan following the disappearance of MH370 and the MH17 air disaster.

The embattled firm explained that the job losses represent around 30% of its 20,000 strong workforce.

The announcement comes after the parent company of the airline reported it lost 307m ringgit ($97.4m, £58.7m), in the three months to the end of June.

In comparison, last year the business lost 176m ringgit.

Investigators continue to search for flight MH370 in the Indian Ocean.

"I want to assure the loved ones of the passengers and crew on-board MH370 that we are resolute in our efforts to search for this aircraft," said Liow Tiong Lai, the Malaysian minister for transport.

"I have been touched by many of the stories I have heard and we will do our best to engage the next of kin and help them find closure.

"To that end we will be providing more regular updates and information related to the search as it becomes available."

The MH17 air crash in near Donetsk in eastern Ukraine, which has been blamed on a rocket attack, is also under investigation.

In addition, the company announced that the state-backed firm that owns a 69% in Malaysia Airlines will gain 100% ownership of the airline.