Kuala Lumpur: Khazanah Nasional Bhd is considering diverting funds to Malaysia Airlines subsidiary Firefly, which could become Malaysia’s new national airline if Malaysia Airlines fails to restructure.
Earlier, Malaysia Aviation Group, the parent company for Malaysia Airlines, warned companies that Khazanah would stop funding the group if restructuring talks with lessors fail.
Firefly is a fully owned subsidiary of the company, which operates a fleet of 12 twin turboprops. It will obtain narrow-body planes and subsequently wide-body aircraft from the market.
Khazanah will take further action after the discussion of restructuring is over. Finance Minister Tengku Zafrul Aziz had already stated that government will not fund the group and it is Khazanah’s matter.
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