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Malaysia's national airline on the verge of bankruptcy due to pandemic

Ukraine / Business and Finance

Malaysia Aviation Group was never able to recover from two tragedies in 2014 - the mysterious disappearance of flight MH370 and the downed flight MH17 over eastern Ukraine.

Malaysia's national airline on the verge of bankruptcy due to pandemic

Malaysia Aviation Group, the holding company of Malaysia Airlines Bhd, said in a letter to landlords that the group is unlikely to be able to make payments after November unless it receives additional funding from the state-owned Khazanah fund.

“Based on the current rate, in the absence of further funding from shareholders, the group is likely to be unable to meet its obligations, including payments to landlords, after November 2020,” - said in the message.

Malaysia's national airline struggled to recover from two tragedies in 2014 - the mysterious disappearance of flight MH370 and the downed flight MH17 over eastern Ukraine.

Efforts to reorganize her business have been further undermined by the coronavirus pandemic.

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