Around 6,000 staff will be shed by Malaysia Airlines as an attempt to revive its damaged image post double passenger jet disasters.
The current workforce of the airlines is 20,000, which means that about 30 percent of the employees will be shed.
The airline will go under the wing of the government completely.
The State investment company which already owns 69 per cent of Malaysia Airlines is now willing to take complete ownership.
Investigators are still searching the southern Indian Ocean for the flight MH370.
The flight on its way to Beijing from Kuala Lumpur with 239 passengers went missing on March 8.
Earlier in July, the flight 17, carrying 298 people was blasted out of the sky while flying over an eastern Ukraine area that is under the control of pro-Russian separatists.
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