Three airlines in the running for Malaysia Airlines stake

Tuesday, 28 Oct, 2019 0

Malaysia Airlines’ owner sovereign wealth fund Khazanah Nasional has drawn up a shortlist of four interested parties for the part privatisation of Malaysia Airlines.

Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali said the quartet of companies were shortlisted after inviting 20 potential investors.

"Our focus is on proposals with prudent financial management and operation synergy in Malaysia Airlines," Mohamed Azmin said, according to a report by business news outlet The Edge Markets.

Mohamed Azmin declined to name the companies but The Edge named three airlines – Qatar Airways, Japan Airlines and China Southern Airlines, citing sources familiar with proceedings.

Qatar Air has since denied it is one of the bidders, Reuters reported.

The Malaysia government still wants to retain a shareholding in the airline which is currently wholly-owned by Khazanahl.

"The government will ensure that through Khazanah, we will still have an important stake and influence in the new structure, although we have not finalised the new structure," the minister said.

The fourth bidder hasn’t been identified but it could be a consortium of investors led by former non-executive chairman of AirAsia Group, Pahamin Abdul Rajab, which earlier this year went public with its interest in taking over the struggling flag carrier.

Mohamed Azmin said final proposals are expected next month and a decision to move forward could be taken by December or early-2020.

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TravelMole Editorial Team

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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