ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Aerospace & Defense

Malaysia Airlines attracts 4 rescue offers as Mahathir weighs options

Former AirAsia Group chairman among prospective investors

Malaysia Airlines has been struggling to recover since two catastrophic crashes in 2014.   © Reuters

SINGAPORE -- Four sets of investors, including a consortium led by a former chairman of budget carrier AirAsia Group, have come forward with offers to rescue Malaysia Airlines, according to local media reports.

The troubled carrier is now undergoing rehabilitation, and the Malaysian government hopes to accelerate this process with an injection of funds. The prospects remain hazy, however, as Prime Minister Mahathir Mohamad has pledged he would not allow the airline to fire workers.

Mahathir told reporters there were offers from four groups of investors, with many Malaysian companies among them. He said his government will consider all four offers.

The group led by ex-AirAsia Group Chairman Datuk Pahamin Rajab plans to acquire 49% of Malaysia Airlines. He told Mahathir his group would soon start to assess the value of the company's assets. AirAsia Group itself is not believed to be involved in the offer.

Singapore Airlines, which in June agreed on a strategic tie-up with Malaysia Airlines, has not shown enthusiasm about making an investment.

Malaysia Airlines fell into a slump after two catastrophic crashes in 2014, and was nationalized the same year.

Khazanah Nasional, Malaysia's sovereign wealth fund, injected 6 billion ringgit ($24.7 billion) in the company and initiated a restructuring process that cut 6,000 workers, but the airline has been slow to recover.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media