Khazanah injects US$72 million in Malaysia Airlines as it considers offers

Khazanah injects US$72 million in Malaysia Airlines as it considers offers

Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport
Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport on Jul 21, 2014. (Photo: Reuters/Edgar Su)

KUALA LUMPUR: Malaysian sovereign wealth fund Khazanah Nasional Bhd said on Monday (Aug 19) it had pumped another 300 million ringgit (US$72 million) into Malaysia Airlines to keep the national carrier afloat as it considers offers for the company.

Malaysia Airlines has been struggling to transform its operations and return to profitability since two disasters struck in 2014, when flight MH370 mysteriously disappeared and flight MH17 was shot down over eastern Ukraine.

Khazanah, which took the airline private in 2014, said it made the capital injection as part of an earlier approved funding. The infusion was first reported by Malaysian newspaper the Edge Financial Daily.

"All strategic options (including partnership with other airlines) are being evaluated," a Khazanah spokesman said.

"Several parties have publicly expressed their interests in (the airline). Khazanah will evaluate all serious offers, specifically, on their capabilities financially and from the execution point of view."

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

Source: Reuters/aa

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