KUALA LUMPUR – The government will hold more discussions with Khazanah Nasional Bhd about the financial woes of Malaysia Aviation Group Bhd (MAGB) and its unit, Malaysia Airlines Bhd (MAB).
Deputy Finance Minister I Datuk Abd Rahim Bakri said talks will aim to identify the group's direction, especially how to strengthen its financial position, while developing the best strategic solution for the troubled carrier.
He said the Covid-19 pandemic severely impacted the global aviation industry and MAGB was not spared.
“MAB is currently operating with 75% of its aircraft grounded due to travel restrictions, thus impacting its capacity and income,” he told the Dewan Rakyat today.
He was responding to a question from Datuk Jalaluddin Alias (BN-Jelebu) about the ability of the country’s airlines, especially Malaysia Airlines, to weather the economic crisis exacerbated by Covid-19.
“As of August 31, 2020, the liquidity position of the MAGB group of companies stood at RM366 million apart from the RM578 million available from funds allocated by Khazanah,” he added. – Bernama, December 15, 2020
