Malaysia Airlines flies daily between Auckland and Kuala Lumpur with most outward-bound New Zealanders flying on to Europe on what had been regarded in the travel industry as a sound second-tier, full-service carrier offering discount fares and competition for rivals.
The airline yesterday said it was "business as usual" in NZ and its operations remain unchanged.
The airline told travel agents last month that it was determined to keep flying.
"We are determined to rebuild trust in Malaysia Airlines as one of the best full-service carriers in the world and we appreciate the support of travel agencies, passengers and our valued employees," said Lee Poh Kait, regional senior vice-president, Australia, New Zealand and southwest Pacific.
The airline said then that the Australasian region was its main market outside Malaysia. As a result of increased demand, it boosted capacity to Australia and New Zealand in February 2014 by a third with new aircraft.
Khazanah said all stakeholders would need to work together to save the company via a "complete overhaul of the national carrier on all relevant aspects ... [including] the airline's operations, business model, finances, human capital and regulatory environment".
"Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity."
Flight MH370 disappeared in March with 239 people on board, en route from Kuala Lumpur to Beijing. The airline was widely criticised for its handling of the crisis. On July 17, MH17 was shot down over Ukraine, with 298 people killed.
Though it formerly had a solid safety reputation, the carrier's association with tragedy has pummelled bookings, and analysts said it was burning through its cash reserves at a rate of about US$2 million ($2.3 million) a day as it struggled to survive.
- additional reporting: AP
