Khazanah to stop funding Malaysia Airlines, parent firm warns lessors


Malaysia Airlines is trying to reduce its financial burden by renegotiating its leases, says a report. – EPA pic, October 8, 2020.

KHAZANAH will stop funding Malaysia Airlines, its holding company is warning lessors as they renegotiate terms as the state carrier tries to stem bleeding in the face of Covid-19, reports Reuters.

Malaysia Aviation Group (MAG) offered “Plan A”, asking creditors and lessorts to take a haircut and if that fails, it will resort to “Plan B” and divert funds to its subsidiary, Firefly, said the report.


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Comments


  • The next right thing to do is to sell off this ever loosing outfit, from the day Tan Sri Aziz steps down it has always be in the red and begging for public fund, just get rid of it. It drains out public funds like nobody business, it bleeds all the way and enough is enough. No Malaysian would cry as there is no pride in it and we are not even has any sentimental values what so ever. Our public funds are better of without bailing this shit company and the extra funds save can be put to good used elsewhere.

    Posted 1 month ago by Teruna Kelana