Malaysia Airlines hires Morgan Stanley to help recovery
Deputy minister Mohammad Farid Mohd has confirmed that Morgan Stanley has been tasked by the Malaysian government to explore options for Malaysia Airlines.
The investment bank has been brought in in an advisory capacity to kickstart the airline’s recovery.
With the government’s blessing, it will explore all options, which could still lead to a stake sale.
Prime Minister Dr Mahathir Mohamad recently said the government had been considering a sale as well as ordering wholesale boardroom changes.
The airline’s fortunes took a nosedive in 2014 after two major air accidents and it has struggled ever since.
Sovereign wealth fund Khazanah Nasional Bhd took it over but has not been able to arrest its slide into debt.
Khazanah said the airline had RM6.3 billion in pre-tax losses last year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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