KUALA LUMPUR, Dec 15 (NNN-Bernama) — The government will discuss further with Khazanah Nasional Bhd to resolve the financial problems faced by Malaysia Aviation Group Bhd (MAGB) and its unit, Malaysia Airlines Bhd (MAB).
Deputy Finance Minister I Abd Rahim Bakri said this was to identify the group’s direction, especially for strengthening its financial position, and the best strategic solution.
He said the COVID-19 pandemic severely impacted the global aviation industry and MAGB was not spared.
“MAB is currently operating with 75 per cent of its aircraft grounded due to travel restrictions, thus impacting its capacity and income,” he told the Dewan Rakyat (lower house of Parliament) Tuesday.
He was responding to Jalaluddin Alias’ (BN-Jelebu) question the extent that the country’s airlines, especially Malaysia Airlines, could weather the economic crisis induced by COVID-19.
“As of Aug 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.
— NNN-BERNAMA
