Aircraft lessors reject MAS restructuring plan

Updated 3 years ago · Published on 10 Oct 2020 12:54PM · 1 Comments

A group of aircraft leasing companies have rejected Malaysia Airlines' restructuring plan, calling it 'inappropriate and fatally flawed'. – The Malaysian Insight file pic, October 10, 2020.

MALAYSIA Airlines’ (MAS) restructuring plan has been rejected by a group of aircraft leasing companies, Reuters reported. 

The companies that supposedly represent 70% of the aircraft and engines leased to MAS said they will challenge the “inappropriate and fatally flawed” plan, according to sources and a letter from a London law firm sighted by Reuters.

However, a source said some of the companies have also endorsed the plan.

The law firm and MAS’ parent company, Malaysia Airlines Group, did not respond to Reuters’ request for comment.

Like most airlines, MAS has been hit hard by the Covid-19 pandemic, and the letter further stated that failure of restructuring talks will push the carrier towards liquidation. – October 10, 2020.

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Comments

  • Just seal it with a kiss, closed the whole damm company down, riding on public funds but giving away business to the cronies of people with powers at premium price. Real ideas from people who knows the industry wasn't taken into accounts so go fuck spiders elsewhere and don't dream of taking more public funds - enough is enough

    Posted 3 years ago by Teruna Kelana · Reply