Malaysia Airlines is bankrupt, but will be resurrected as a new company. 20,000 employees are dismissed, and 6,000 of them are not offered jobs in the new company.
The airline's chief Christoph Mueller is stating that the company is "technically bankrupt".
The airline was in 2010 and 2011 voted the world's best airlines to Asia by World Travel Awards, but has since struggled with poor results. Last year it went from bad to worse when the company suffered from two serious accidents.
In March last year a flight disappeared from Kuala Lumpur on its way to Beijing. And in July, a flight from Amsterdam was shot down over eastern Ukraine.
The 14,000 employees who have been dismissed, but who are offered jobs in the new company, have twelve days to respond to the new job offer.
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Sweden gives six months in prison for war crimes
A brutal Iraqi war criminal who has participated in torture and executions, who has carried a severed head while poking it in the eye with a screwdriver, who has dragged dead and alive captives behind a car - has been punished by a Swedish court, in yet another ridiculous verdict by the failing Swedish legal system.