By Keith Laing - 07/28/14 04:53 PM EDT
Malaysia Airlines is considering changing its name after a pair of deadly accidents this year, the London Daily Telegraph reports.
The airline, which is mostly owned by the Malaysian government, suffered two catastrophic incidents within four months of each other this year when one of its planes went missing mid-flight in March and another was shot down over Ukraine this month.
The back-to-back high-profile disasters have caused Malaysia Air to consider rebranding itself as other airlines have done in the past after deadly crashes, the company's Commercial Director Hugh Dunleavy said according to the report.
“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,” he continued.
The disappearance of Malaysia Air Flight 370 in March while it was carrying 239 passengers roiled the international aviation industry and caused turmoil for the airline. The company was said to be facing a potential bankruptcy in May after its stock value dropped to its lowest levels since 1998.
The turbulence surrounding the country only grew worse when its Flight 17 was shot down over Ukraine in the beginning of July, resulting in the deaths of another 295 passengers who were on board that plane at the time.
The plane, which has been missing since March 8, has still not been found.
The crash of Malaysia Air Flight 17 has been attributed to Russian separatists who are involved in a dispute over the area of Ukraine near Crimea.
U.S. officials have alleged that the plane was shot down using technology that was supplied by the Russian government.
Dunleavy called in the interview for the creation of an international body that would regulate airspace in dangerous areas such as Ukraine.
“MH17 was in airspace approved by ICAO [the International Civil Aviation Organization]," he said. "Its flight plan was approved by the Ukrainian authorities, as well as Eurocontrol. Yet still it was brought down, it seems, by a missile.
“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,” Dunleavy continued. “MH17 has shown us that airlines can no longer rely on existing industry bodies for this information. Airlines such as ours should be left to focus on the quality of our product in the air, not on the air corridor we fly in, which should be guaranteed as safe passage.”