Malaysia Airlines is in a difficult financial situation and will be cutting costs further, according to a staff memo sent by Chairman Munior Majid last week. "Our financial performance is precarious and has increasingly become a source for concern," Majid wrote, according to Reuters. "There is now a need to extend the scope of the cost reduction focus and put in place more aggressive measures." Senior managers will take a voluntary pay cut of 15%-30% beginning Dec. 1. In addition, MAS ...

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