KHAZANAH NASIONAL OPEN TO ALL METHODS FOR GROWTH OF MALAYSIA AIRLINES

KUALA LUMPUR, March 11 (Bernama) -- Khazanah Nasional Bhd, the sole shareholder of Malaysia Airlines Bhd (MAB), is open to all methods to achieve its strategy for the growth of the national carrier, including strengthening the airline’s long-haul routes.

“We are open to all methods to achieve our strategy,” said Khazanah Nasional managing director Datuk Amirul Feisal Wan Zahir when asked whether the sovereign wealth fund is looking for other partners in MAB.

Khazanah Nasional is the sole shareholder of MAB via its subsidiary, Malaysia Aviation Group Bhd (MAG).

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He said the national airline has shown (a good) performance, and it should take the opportunity to be more resilient.

“Now the focus is on building products that everyone can be proud of, and product development includes people, engineering and operations. That is still ongoing.

“For access, we know the aircraft is old, but the replacement order is taking time due to global supply chain issues,” he said at a media briefing at the Khazanah 2024 Annual Review here today.

He said MAB has the opportunity to strengthen some long-distance routes, but many things need to be done.

Earlier, Amirul Feisal said that for its airline assets, MAG, the holding company for the airline, recorded the first full year of positive net income after tax (NIAT) last year since 2010, and no additional capital injection was required during the year.

He said this was driven by strong demand following the recovery in international and domestic travel, passenger capacity returning to the pre-Covid-19 levels, effective cost management, and cash flow optimisation.

-- BERNAMA