KUALA LUMPUR: Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, has successfully obtained the approval from the UK Court to proceed with a major component of the comprehensive restructuring of the group.
That court decision was a major milestone towards securing the airline’s future following the severe impact of the Covid-19 pandemic on the travel and tourism industry globally.
The airline said in a statement that the restructuring was based on a revised long-term business plan and will pave the way for MAG to ensure its long-term sustainability together with the strong support from its shareholder and the large majority of its creditors.
With the success of obtaining approval through the UK court-convened restru…
Read the full article at: https://www.thestar.com.my/business/business-news/2021/01/20/malaysia-aviation-group-moves-forward-in-its-restructuring-exercise