Malaysia Airlines gets another RM300m shot in the arm

Khazanah Nasional Bhd has pumped another RM300 million into the country’s flag carrier Malaysia Airlines Bhd, via its holding company Malaysia Aviation Group Bhd (MAG), taking the total amount of capital injected so far this year to RM800 million.

(The Edge Financial Daily) – In March the sovereign wealth fund pumped RM500 million into MAG, which also has FlyFirefly Sdn Bhd, MASwings Sdn Bhd and MAB Kargo Sdn Bhd under its wings.

A spokesperson for Khazanah, which wholly owns the loss-making airline, told The Edge Financial Daily that the RM800 million capital injection into MAG is part of the earlier RM6 billion funding approved under the 12-point MAS Recovery Plan (MRP) announced in 2014.

The spokesperson declined to disclose the total sum that Khazanah has disbursed under the MRP except to say that “in the interim, MAG will continue to require funding to operate on a business-as-usual basis while making efforts in enhancing its customer experience and containing losses”.

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