Exclusive: Malaysia Airlines Parent Company Says Group Is Running Out Of Cash -letter

Malaysia’s national airline has struggled to recover from two tragedies in 2014 – the mysterious disappearance of flight MH370 and the shooting down of flight MH17 over eastern Ukraine.

Khazanah took it private that year as part of a $1.5 billion restructuring but efforts to turnaround its business have been further upended by the coronavirus pandemic.

Malaysia Airlines plans to negotiate the steep discounts with its lessors via a restructuring plan it is seeking to implement through a UK court process, the sources said, declining to be identified due to the sensitivity of the matter.

In addition to Malaysia Airlines Bhd, the holding company group includes other local carriers and entities involved in aircraft leasing and ground handling services.

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