Malaysia Airlines is gearing up to possibly change its name and restructure air routes in what’s being deemed a massive brand overhaul. This radical move comes on the heels of two monumental disasters in a six-month period that have left the airline with a damaged reputation.

The Telegraph reports in its exclusive that the “majority-owned” government airline will also seek new investors to start over in building business.

According to the report, strategizing is already underway in an objective to restructure routes and increase outsourcing. It’s even possible that rival “aviation groups” will add to Malaysia Airlines’ private investments.

The commercial airline carrier wants a “single global” monitor to decide where civilian planes are allowed to travel and what air territory is dangerous and must be avoided.

Commercial director Hugh Dunleavy says:

“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.”

Malaysia Airlines carries 50,000 passengers a day and employs 20,000 staff. The government-owned airline is said to be “well-funded” through external investments in an effort to regain the brand’s confidence after Flight MH370 went missing with 239 people on-board flying to Beijing and Flight MH17 was downed by a missile in eastern Ukraine. 298 passengers were on their way to Kuala Lumpur.

Dunleavy notes that MH17’s airspace was approved by ICAO [International Civil Aviation Organization]. The route was also approved by the Ukrainian authorities and Eurocontrol. In spite of the plane getting an all-clear approval to enter questionable airspace, the Malaysia plane was struck by a Buk missile believed to be fired off by Ukranian pro-Russian rebels.

An investigation is underway over determining who’s responsible for the crash. 293 people were killed on the plane that was flying from Amsterdam to Kuala Lumpur on July 17th.

Dunleavy says in his report at The Telegraph:

“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.”

The senior commercial officer is calling for “one body to be the arbiter of where we can fly.” He says commercial airliners shouldn’t bring focus to air corridors they fly in because they should be guaranteed as safe. The focus should be on the “quality” of their product.

Dunleavy concludes by saying that the “airline industry should not be held accountable for factors that are beyond our control.”

In an GMA News Online report, Shukor Yusof, an analyst with Malaysia-based aviation consultancy Endau Analytics, reveals that if the Malaysian government didn’t have an “immediate game plan,” it contributes to “its self-destruction and eventual demise.”

Shukor even says Malaysia Airlines was losing “one to two million US dollars a day,” and has “the bandwidth to stay afloat for about six more months based on my estimates of its cash reserves.”

Will a name change and restructuring of Malaysia Airlines make a difference after being associated with two global tragedies?

[Image via Airplane Pictures]