KHAZANAH Nasional Bhd did not interfere in the running of Malaysia Airlines Bhd (MAB), the national carrier’s outgoing chief executive officer said today in denying reports that its meddling led to his decision to quit.

Peter Bellew said Khazanah had supported him during the 1½ years as MAB’s group managing director and chief executive officer. 

It was announced yesterday that Bellew will return to budget Irish airline Ryanair in December. The move had shocked MAB, and sparked speculation as the Irishman is the second foreigner to run Malaysia Airlines, only to then leave after a short time.

Yesterday, the New Straits Times and Malay Mail published reports citing unnamed sources claiming that Bellew had quit because of disagreements with Khazanah, similar to German turnaround specialist Cristoph Mueller, who resigned last year after less than a year into his contract.

“There have been news reports about Khazanah. Let me be clear. Khazanah is a Malaysian investment company linked to the government. They have been incredibly supportive to me personally and corporately.

“I tried to be transparent on a daily basis, included them in most significant meetings and dragged their staff to work for us!  It has worked well. There has been no interference.  

“Although possibly I drove Khazanah mad with my constant questions and wish for consensus. I cannot thank them enough for accelerating our transformation. Tan Sri Azman (Mokhtar) could not have been more supportive. Terima kasih Khazanah,” said Bellew.

He also addressed questions of government interference, to which he said: “There has been none for me. Zero interference.”

On his return to Irish low-cost carrier Ryanair, Bellew regarded the move as a national service.

“It is Ireland’s greatest company. They need my help and there is a big challenge. It is a form of national service,” he said adding he had received a call from Ryanair late evening two weeks ago to be its chief operating officer.  

Bellew’s move comes as a shock to MAB’s board, which yesterday noted that Bellew had expressed his commitment to the airlines when asked on September 27 about speculations that he would re-join Ryanair.

“But a week later, the call came, and in life we can really never say never.  I am looking forward to being close again to my family and friends 14 hours away in Ireland,” said Bellew. 

Bellew also pointed out that success is just within MAB’s grasp. 

“Just another 4%-5% in revenue monthly and it should move to profits. Not always easy to gain but in the second quarter revenue increased 7%,” he said  

Bellew said the airline was improving with new wide-body planes, lounges, loyalty programmes and website, as well as better operations in Kuala Lumpur, though some work needed to be done on the food.

“Please don’t change the brand!  Much work has been done globally through the media and travel agents to rebuild our heritage.  

“People love what Malaysia Airlines stands for. The brand is now revived from China to the UK and down to Australia. 

“That work must continue and will yield the 5%+ revenue growth,” said Bellew. – October 18, 2017