10-10-2020, 04:10 PM
KUALA LUMPUR: Malaysia Airlines Bhd is continuing talks with leasing companies about a restructuring plan as it tries to weather the coronavirus pandemic.
Malaysia Aviation Group, the holding company for the country’s flag carrier, is pleased with the level of support it has received from lessors and is “confident that there are appropriate legal mechanisms available should that support not be universal”, it said in a statement Saturday.
Reuters reported on Friday that a group of leasing companies had rejected the restructuring plan put forward by Malaysia Airlines, citing people familiar with the matter and a letter from a London law firm.
The airline, wholly owned by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, announced earlier this month that it had embarked on an “urgent” restructuring exercise that involves renegotiating with lessors, as it sees little sign of the pandemic easing.
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Malaysia Aviation Group, the holding company for the country’s flag carrier, is pleased with the level of support it has received from lessors and is “confident that there are appropriate legal mechanisms available should that support not be universal”, it said in a statement Saturday.
Reuters reported on Friday that a group of leasing companies had rejected the restructuring plan put forward by Malaysia Airlines, citing people familiar with the matter and a letter from a London law firm.
The airline, wholly owned by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, announced earlier this month that it had embarked on an “urgent” restructuring exercise that involves renegotiating with lessors, as it sees little sign of the pandemic easing.
- Continue reading -