Malaysia Airlines gets RM300mil from sovereign wealth fund

  Khazanah Nasional Bhd is injecting RM300mil into Malaysia Airlines via its parent company Malaysia Aviation Group Bhd (MAG), to keep the national carrier afloat.

  The sovereign wealth fund, which took the airline private in 2014, made the capital injection as part of an earlier approved funding.

Pixabay pic

  In March, Khazanah had pumped RM500 million into MAG, which also manages Firefly Sdn Bhd, MASwings and MAB Kargo Sdn Bhd.

  Malaysia Airlines has been struggling to make profits and transform its operations since 2014, when flight MH370 mysteriously disappeared in March and flight MH17 was shot down over eastern Ukraine in July.

  Prime Minister Tun Dr Mahathir Mohamad said in March the government was considering whether to shut, sell or refinance Malaysia Airlines.

  It was reported that Khazanah is evaluating all strategic options, including partnership with other airlines.

  It was previously reported that Malaysia Airlines had attracted four suitors - Najah Air Sdn Bhd (led by former AirAsia Group Bhd chairman Datuk Pahamin Ab Rajab), Tan Sri Syed Azman Syed Ibrahim of The Weststar Group, Jentayu Danaraksa Sdn Bhd, and a group of investors.