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Report: Khazanah facing resistance to Malaysia Airlines, AirAsia X merger proposal | Malay Mail

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KUALA LUMPUR, Sept 25 — Khazanah Nasional Bhd’s proposal to merge ailing national carrier Malaysia Airlines Bhd (MAB) and long-haul low-cost carrier AirAsia X Bhd (AAX) is reportedly facing strong resistance from the fund’s stakeholders. Financial paper The Malaysian Reserve cited an unnamed...

Malaysia Airlines planes are seen on the tarmac at the Kuala Lumpur International Airport in this March 12, 2014 file photo. — Reuters pic

AAX, on the other hand, reportedly posted a net loss of RM207.11 million for the second quarter of 2019 and a net loss of RM312.69 million last year as well as a loss of RM244 million in 2015. “Basically, AAX shareholders would get a ‘cleaner’ MAB. Why sell when the government has to clean it up prior to the sale? In fact, there is no single benefit for MAB to merge with AAX,” the report quoted the source, who claimed to be familiar with the matter.

“It seems like the management of Khazanah is pushing to bail out AAX in the pretext of saving MAB. This is not what they are tasked to do,” the source added.

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Report: Khazanah pushing for MAB-AirAsia X mergerHowever, several of Khazanah's stakeholders are against it, says The Malaysian Reserve. This would be an incredibly dumb move. A five star airline being run by a budget long distance airline that has a completely different business model. Who dreamt up this stupid idea? Another offer move to the crony !!! This is the hidden hand of the ex Iron Lady !!! Terpaling bodoh setakat harini
Source: malaysiakini - 🏆 20. / 51 Read more »