Malaysia Airlines picks new CEO after shock departure

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Malaysia Airlines CEO Peter Bellew is stepping down from the company after about a year on the job.

His departure after just over a year in charge means Malaysia's national carrier must appoint a third chief executive in three years as it continues to recover from two tragedies in 2014, when flight MH370 disappeared in mysterious circumstances and flight MH17 was shot down over eastern Ukraine.

When I was the CEO of MAS (Malaysian Airline System Bhd), he was the head of our initiative to reduce fuel consumption.

The Irishman said he was returning to Ryanair out of a sense of responsibility to his native country, where the airline is based.

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Kasey Palmer and Michael Hefele are ruled out with thigh injuries, while Jon Stankovic is out with a long-term knee injury. However, since then they have not won in the last six games, scoring only one goal as their form has seemingly dried up.

Peter Bellew has been appointed chief operations officer (COO) at the Irish airline, where he used to work, following a recent crisis that led to the cancellation of thousands of flights.

Izham, now Malaysia Airlines chief operating officer, will be the carrier's fourth chief executive since 2014 when the company was plunged into crisis by the disappearance of flight MH370 and the downing of MH17.

"Izham has been integral to the airline's ongoing turnaround effort". He flew Malaysia Airlines' first B777-200 from Seattle to Kuala Lumpur and back, setting new world records for longest flight and fastest round-the-world flight by a commercial airliner, with a total flight time of 41 hours 59 minutes over 23,310 miles.

Rival airline Norwegian had suggested that the pilot shortages that led to the cancellations were due to large numbers of staff defecting to them.

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The ban was fully lifted in July after US officials said airports in the region had taken other steps to increase security. Rechargeable lithium batteries are used in consumer products ranging from cellphones and laptops to electric cars.

Bellew's predecessor, German turnaround specialist Christoph Mueller, also resigned in a surprise move about a year ago.

"Captain Izham is a key member of the MH family and brings with him 38 years of experience in the aviation industry", said Md Nor Yusof on Izham's appointment.

"As provided for by the MRP, the restructuring of Malaysia Airlines follows a well laid-out governance and approval framework".

In a statement issued by the company late on Friday, Malaysia Airlines Berhad (MAB) chairman Md Nor Yusof said of Izham:"He has a valuable breadth of understanding that spans airline operations and business management". His responsibilities will focus on pilot production, training and career development.

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The difference between the expected and actual EPS was $0.03/share, which represents an Earnings surprise of 1.9%. The company had revenue of $13.14 billion for the quarter, compared to the consensus estimate of $13.71 billion.

"Khazanah, in actual fact, was micro-managing Malaysia Airlines".

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