Malaysia's sovereign wealth fund Khazanah will create a restructuring plan for Malaysia Airlines (
According to Malaysian state news agency Bernama and other local media, the plan was announced by Khazanah Nasional managing director Azman Mokhtar on the sidelines of a conference aimed at attracting investment to Malaysia.
He is reported as saying that “all options” are being considered. "At this moment, we are not prepared to say which option yet. But suffice to say, a lot of work has been done."
Mokhtar indcated that any plan will need to improve the Oneworld carrier's
"All three areas obviously need to be consolidated. Where the question of leadership and management is concerned, this area too we will seek to improve over time," said Azman.
Khazanah holds a direct 14% stake in
He added that the carrier may reduce flights in order to cut losses. One positive sign he pointed was the carrier’s load factor of 81% in 2013.
This year has emerged as the most challenging in
The carrier also faces continued pressure from AirAsia and Malindo Air on domestic routes, and increasing competition from AirAsia X on international routes. In addition, it has been hurt by a weaker Malaysian Ringgit.
MAS posted a pre-tax loss of
Source: Cirium Dashboard