Loss-making Malaysia Airlines is set to undergo a complete overhaul as it is restructured into a new company, with a rebranding that will be unveiled next week and changes planned to its fleet and network strategies.

The man credited with reviving Aer Lingus has been picked to head the successor company to Malaysian Airline System Bhd (MAS), which is being taken private after being hit by two separate air disasters.

Malaysia’s government will carry out a complete overhaul of its troubled national airline in an attempt to revive the loss-making firm after it was hit by two devastating jetliner disasters this year.

Malaysia’s state investment company plans to make Malaysia Airlines fully government owned, removing it from the country’s stock exchange before carrying out a far-reaching overhaul of the carrier that is reeling from double disasters.