Malaysia Airlines Group (MAG) has gained court approval of a deal to reduce lease liabilities, which clears the way for a broader restructuring and a further funding injection by the government.
Two Southeast Asian flag-carriers are moving closer to completing major restructuring efforts that will help them reduce debt commitments and operate efficiently once demand returns.
Southeast Asia’s airline industry is being shaken up by a wave of restructuring programs prompted by the COVID-19 crisis, with most of the region’s flag-carriers looking to downsize to survive.
Malaysia Aviation Group (MAG), the holding company of Malaysia Airlines, is reported to have warned creditors and lessors that its owner, sovereign wealth fund Khazanah Nasional, will stop funding the flag-carrier should debt restructuring talks fail, which would push the airline into liquidation.
Malaysia Airlines Berhad (MAB) is hoping its owner, sovereign wealth fund Khazanah Nasional, will bail it out as the flag-carrier will otherwise run out of cash to pay lessors and suppliers after November, according to a Reuters report.
The COVID-19 crisis has not stopped Japan Airlines (JAL) and Malaysia Airlines Berhad (MAB) from launching their long-planned partnership on routes between their home countries.
Malaysian Prime Minister Muhyiddin Yassin has appointed the former CEO of the country’s petroleum company, Petronas, as chairman of Malaysia Airlines Berhad (MAB).
Malaysia Airlines temporarily suspended interstate service across peninsular Malaysia on April 8 after domestic flights were deemed to be operating at an uneconomical level following the country’s lockdown.
The Malaysian Aviation Commission (MAVCOM) is urging aviation stakeholders to only seek financial help from Malaysia’s government “as a last resort” with fiscal resources stretched amid the COVID-19 crisis.
Malaysia Airlines Berhad CEO Izham Ismail has said the hasty and unilateral decision to enforce a nationwide lockdown of Malaysia resulted in severe disruption to the flag carrier’s operations.
While Air France-KLM appears to have held discussions with Malaysia Airlines’ owners, it has rejected speculation that it is bidding to buy a major stake in the Malaysian carrier.
Malaysia Airlines Bhd. and Japan Airlines plan to launch a joint venture on routes between their countries in 2020 after gaining approval from regulators.
Routesonline provides an update on the operations of the Airbus A380. We also reveal the network size of each operator and the top destinations served by the aircraft type.
Routesonline provides an update on the operations of the Airbus A380. We also reveal the network size of each operator and the top destinations served by the aircraft type.
