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Outgoing Aer Lingus boss Christoph Mueller has ben charged with turning around Malaysia Airlines, which is going private after being hit by two separate aircraft losses.

Malaysia's sovereign wealth fund and MAS parent company Khazanah Nasional has appointed Mueller as chief executive-designate and made other leadership appointments for the new company.

Mueller, chief executive of Aer Lingus since 2009, has been credited with turning around the Irish airline despite a weak European market, Reuters reported.

"Discussions are ongoing for Mueller to assume the post of MAS CEO at a date prior to May 1, 2015, but no earlier than March 1, 2015," Khazanah said.

"The appointments announced today are part of efforts by the government and Khazanah to lay strong foundations for the future success of our national carrier," Malaysian prime minister Najib Razak said.

Trading in the airline's shares will be suspended from December 15, the first step towards the airline's delisting from the stock exchange as part of a 6 billion-ringgit government-led