Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on March 3, 2020

KUALA LUMPUR: Khazanah Nasional Bhd said it will continue to work with the government and Malaysia Airlines Bhd to further review the four shortlisted proposals to turn the airline around.

The sovereign wealth fund said that in 2019, it evaluated options to resolve key issues facing Malaysia Airlines and launched a process to evaluate potential partners for the airline.

“A total of nine proposals were received, of which four were shortlisted,” Khazanah managing director Datuk Shahril Ridza Ridzuan said in a statement yesterday.

“For 2020, Khazanah will continue to work closely with the government and Malaysia Airlines to further review the proposals and finalise a decision on the appropriate strategic option going forward,” he added.

Note that impairments at Malaysia Airlines were the primary factor behind Khazanah’s fall into the red in 2018, accounting for half of the total impairment for the year.

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