Malaysia Airlines is now technically bankrupt.
Malaysia Airlines is now technically bankrupt. EPA - Ahmad Yusni

Malaysia Airlines crumbles, now 'technically bankrupt'

STRUCK by the double horror of two planes filled with passengers being destroyed in 2014, Malaysia Airlines is now reported to be "technically bankrupt", slashing jobs and preparing for a whole-of-company rebrand.

Malaysia Airlines made international headlines in March 2014 after flight MH370 disappeared with 239 passengers and crew on board. The search off the Australian coast continues.

Months later, flight MH17 was shot down by what is thought to have been a ground-to-air missile while flying above war-torn Ukraine. All 298 passengers and crew were killed when the aircraft exploded in mid-air.

In the two tragedies, 44 Australians were killed.

BBC reports the two disasters broke the back of the already embattled carrier.

New chief executive Christoph Mueller, appointed in May, will now oversee the cutting of 6000 workers.

A massive rebrand of the airline would begin on September 1, which executives will no doubt hope will sever the link between the airline and the two horror incidents.

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