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TD breaking news – Administrator appointed to Malaysia Airlines

Business as usual for Malaysian flag carrier as it restructures. 

The government of Malaysia has just confirmed the voluntary appointment of an Administrator for Malaysia Airline System Berhad (MAS), as part of the carrier’s restructuring plan which will see it relaunch as Malaysia Airlines Berhad (MAB) on 01 September this year.

CEO Christoph Mueller said the appointment would have no impact on daily operations or existing reservations, with all MAS flights, schedules and bookings continuing to operate as normal.

“You can continue to make reservations in full confidence that our flights and scheudles are operating as normal, that tickets sold will be honoured, and that our Enrich frequent flyer program continues with Miles and status preserved,” Mueller said.

The Malaysian government’s Khazanah sovereign fund is now the sole shareholder of MAS, and has appointed Dato’ Mohammad Faiz Azmi as administrator effective immediately under the MAS (Administration) Act 2015 which was passed by both houses of the Malaysian Parliament last year.

“The MAS Act provides for an effective, efficient and seamless means to transition the busienss, property, rights, liabilities and affairs of MAS to MAB,” according to a statement just issued.

Under the Act, the Administrator plays a critical role in facilitating the transfer of selected assets and liabilities to MAB, which will replace MAS as the country’s new national carrier from later this year. The transition from MAS to MAB is a key component of the 12-point recovery plan which aims to restructure the carrier “and set it on a path towards sustainable profitability”.

More details in tomorrow’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 25 May 15

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