Khazanah to pump in RM3.6 billion in MAG restructuring

Ragananthini Vethasalam Updated 4 days ago · Published on 23 Feb 2021 10:42AM · 1 Comments

Malaysia Aviation Group will receive a fresh capital injection amounting to RM3.6 million from its sole shareholder Khazanah Nasional Bhd to carry on operations during its restructuring period that it expected to run until 2025. – The Malaysian Insight file pic, February 23, 2021.

MALAYSIA Aviation Group (MAG), the parent company of Malaysia Airlines Bhd, will receive fresh capital amounting to RM3.6 billion from its sole shareholder Khazanah Nasional Bhd to fund the business during the restructuring period which is to run until 2025.

This is after a United Kingdom High Court approved a Scheme of Arrangement between the group’s leasing entity, MAB Leasing Limited, and the majority of its aircraft operating lessors.

Comments

More of Tax Payers Money gonna be wasted for a very sick and Dying Airline which should have been sold off ages ago. How sure there will not be another financial injection in the Future. The New BD Finance Minister said Khazanah will not pump in any more money but looks like another BD U-Turn again.
Posted 4 days ago by Bobby Gill