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Troubled Malaysia Airlines could be renamed in an attempt to save the company following two disasters in six months.

The Asian air carriers reputation could not be lower after the disappearance of flight MH370 in March and the MH17 crash in east Ukraine earlier this month.

Regardless of the causes behind the two tragedies, many have speculated the firms days are numbered if passengers decide flying with them isn't worth the risk.

But in an interview with The Telegraph, Malaysia Airlines commercial director Hugh Dunleavy said he believed the company would eventually 'emerge stronger' from the crisis.

(Image: Getty)

Mr Dunleavy told the paper: "“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.

"As a company, Malaysia Airlines has twice been in a period of mourning this year but we will eventually overcome this tragedy and emerge stronger," he said.

"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."

Options being considered include renaming and re-branding the entire company.

Mr Dunleavy went on to say individual airlines could not be expected to make decisions on which volatile regions are secure to fly over.

(Image: Reuters)

Despite flying over a conflict zone, MH17's flight path had been approved by the International Civil Aviation Organisation (ICAO), the Ukrainian authorities and the European airspace service provider Eurocontrol, the commercial director said.

He also called for airlines and existing aviation bodies to 'review existing processes and set more stringent standards'.

"Ultimately, we need one body to be the arbiter of where we can fly," he said. "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. No longer should airlines bear the responsibility of deeming flight paths safe or unsafe. We are businesses, not agencies.

"And it is not reasonable for us to assess all of the issues going on in all of the regions in the world, and determine a safe flight path. For the sake of passenger and crew safety we need to insist on a higher level of authority."

(Image: Athena Picture Agency)

Flight MH17 from Amsterdam to Kuala Lumpur is widely believed to have been brought down by a surface-to-air missile fired by pro-Russian separatists fighting against the Ukrainian government, killing all 298 people on board.

The disaster on July 17 was the second major crisis involving the company this year after flight MH370 from Kuala Lumpur to Beijing went missing on March 8.

It is believed to have crashed somewhere in the Indian Ocean, killing all 239 people on board, but an international search operation has so far failed to find the wreckage.