The parent company of Malaysia Airlines said on Thursday, January 7, it was nearing the end of a debt restructuring process which it hopes will be completed by the end of the 1st quarter of this year.
MAG has been in discussions with creditors for months as part of efforts to turn around Malaysia's national carrier, long beset by high costs and a bloated workforce. "Good progress has been achieved with full support by a large majority of its creditors for a consensual agreement," MAG said in a statement about the restructuring process.
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