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The fate of Malaysia Airlines is still unbalanced. Following that there has been no positive progress from negotiations on the restructuring of Malaysia Airlines with the aircraft charter company (lessor).
According to Malaysia Airlines CEO Izham Ismail in an interview with The Edge recently said Malaysia Airlines had no choice but to close the company if lessors decided not to support the debt restructuring plan. There are creditors who have agreed. Some still refuse, and other groups are still 50:50.
“I need to get 50:50 (join) those who have agreed. I understand a sizeable number of creditors have agreed. The plan is to restructure the airline’s balance sheet over five years, breaking even by 2023 assuming that demand in the domestic and Southeast Asian markets returns to 2019 levels in the second and third quarters of 2022,” he said.
Izham added that the plan will also require an injection of fresh funds from shareholders, the Khazanah Nasional state fund, to assist the airline over the next 18 months.
However Malaysia Aviation Group (MAG), the airline’s parent company, did not immediately respond via email. Lessor, who claims to represent 70% of the aircraft and engines leased to the Malaysia Airlines group, said the plan was flawed and flawed.
“Lessors need to make a decision by 11 October, so that the airline can decide whether to proceed with the restructuring plan or implement Plan B which could involve transferring Malaysia Airlines’ flight operator (AOC) certificate to a new airline with a different name, or utilizing AOC from sister airline Firefly and MASwings,” Izham stressed.
If you ask me further, he continued can Plan B be trusted? Of course. We have all the skills prepared. [kontan.co.id/photo special]
