SEOUL (June 2): Malaysia Airlines Bhd should not be shut down, according to the airline's CEO, Izham Ismail.

"I personally believe that (shutting it down) would be a wrong move," he told Malaysian journalists on the sidelines of the International Air Transport Association's 75th annual general meeting here, today.

However, he is open to equity investments from investors.

Meanwhile, he said the airline is still awaiting approval from the board of directors of its sole shareholder Khazanah Nasional Bhd, on its next turnaround plan.

He expects a decision from Khazanah's board, which is chaired by Prime Minister Tun Dr Mahathir Mohamad, to be made by end-June or July.

He added that the board of the airline's parent, Malaysia Aviation Group, has given the green light to the "long-term business plan" in February.

Noting that the five-year Malaysia Airlines Recovery Plan (MRP) has "met its purpose", Izham said the new business plan will see the airline remaining steadfast as a premium or full-service airline.

Dr Mahathir was quoted as saying in March that the government was considering whether to shut, sell or refinance the loss-making national airline after four failed attempts at restructuring it.