With the demise of Malaysia Airlines (MAS) looming in the wake of the mystery disappearance of a passenger jet over the India Ocean the carrier is increasing efforts to cut costs to survive.
The measures always include "re-assessing" the cargo unit's business model, with the airline possibly selling some freighters if it can find a buyer, reported Reuters.
MAS had planned to order new passenger aircraft, including Airbus A330s and A350s, before MH370 went missing. That plan has been put on hold, although the airline could acquire some A330s on lease to replace ageing Boeing 777-200s, the sources said.
The airline continues to burn cash but industry observers are confident management can turn the business around, with a view to developing the company sustainably over the next 40 years.
Before the disaster, management had hoped to break even in 2014 after three years of losses but last month it posted a record quarterly loss of MYR443.4 million (US$138 million) for the three months ended March 31.
The second quarter this year is "a challenge" but the management wants to implement measures that, if successful, could enable the airline to break even in 2015, director of commercial operations Hugh Dunleavy told Reuters on the International Air Transport Association (IATA) in Doha, Qatar.
"I don't think there will be any sacred cows," said Mr Dunleavy. "Every part of the airline will have to be looked at very carefully."
He declined comment on whether MAS could be privatised or would sell its engineering business, but he said cutting "legacy costs" that have been in place for "the last 10 to 20 years" was a possibility.
"The world has changed since those costs were implemented. In those days, the Middle Eastern carriers and low-cost carriers were non-existent. MH370 has given us the impetus to be far more vigorous in going after those costs."
The airline will retire the last of its older Boeing 737-400 aircraft in 15 June, replacing them with B737-800s that have higher fuel efficiency and lower maintenance costs.
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