Planes. Malaysia Airlines risks closure
Creditors must be paid off as soon as possible
Risk of closure: these two words are enough to have a cold sweat, especially if you look at air transport. An emblematic example is that of Malaysia Airlines, flag carrier of the Asian country that may have to close its doors soon. No fleet and no air connections, therefore, unless there is sufficient liquidity to "survive" another year and a half; the money should be paid into the coffers of the Malaysian carrier by Khazanah Nasional, the main shareholder of the same airline. In short, it is necessary to pay off creditors, but the restructuring plan developed by CEO Izham Ismail speaks for itself.
A balanced budget can be reached in the course of 2023, provided that the demand for travel in Malaysia and in other countries in this part of the world returns to the levels of 2019 by and no later than the third quarter of 2022 (July-August-September therefore). CEO stressed that some creditors have already accepted the plan, while others are holding on as they are hesitant about the carrier's prospects. Among other things, there is even a second plan; according to Ismail, the alternative is to transform Malaysia Airlines into a new company with a completely different name, or the routes of other airlines in the country such as Firefly and MASwings could be exploited. Future was never so uncertain as in this period, next week will be decisive for further news.
AVIONEWS - World Aeronautical Press Agency