Name change in the wind for Malaysia Airlines?

What now for Malaysia Airlines? Photo / AP

Malaysian Airlines is set for a brand overhaul after two major tragedies in the last six months, it emerged today.

The airline said it is looking at a number of options to restructure the business which could include changing its name.

Among the other changes the Malaysian flag carrier is considering are new routes and expanding out-sourcing to increase profitability.

It follows the death of 298 passengers after flight MH17 was shot down over Ukraine on July 17 and the disappearance of flight MH370 on March 8, which was carrying 239 passengers and crew.

The Malaysian flag carrier will also seek new investors to rebuild its business after two major tragedies within six months.

The review process is being led by the Malaysian government which has a majority share in the business which employs 20,000 staff and carries 50,000 passengers a day.

Meanwhile, Malaysia Airlines has called for a single global body to monitor threats and decide where civilian aircraft are allowed to fly.

MH370 was travelling from Kuala Lumpur to Beijing when it lost touch with air traffic control an hour after take-off. The wreckage has never been found in spite of a massive international search.

The airline's commercial director, told The Sunday Telegraph: "Our majority shareholder, the Malaysian government, has already started a process of assessing the future shape of our business and that process will now be speeded up as a result of MH17.

"There are several options on the table but all involve creating an airline fit for purpose in what is a new era for us, and other airlines."

Mr Dunleavy also issued a call for action to ensure what happened to MH17, which appears to have been hit by a missile in airspace approved by the International Civil Aviation Organisation, does not happen again.

"This tragedy has taught us that despite following the guidelines and advice set out by the governing bodies, the skies above certain territories are simply not safe. MH17 has shown us that airlines can no longer rely on existing industry bodies for this information."

Mr Dunleavy called for the industry to form "one body to be the arbiter of where we can fly".

- UK Daily Mail