Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, returned to profitability in 2021 thanks to a massive debt restructuring exercise and strong cargo performance.
Singapore Airlines and Malaysia Airlines will restart a codeshare agreement signed in 2019 as their home countries plan to ease restrictions via vaccinated travel lane (VTL).
Malaysia Airlines said it will phase out all its Airbus A380s in 2021 as part of its revised fleet plan, with medium-term plans to place new widebody orders to replace ageing aircraft.
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.