Malaysia Aviation Group completes recapitalisation

MAG group CEO, Izham Ismail said: “The longer-term vision of MAG is to establish itself as a leading global travel group. This signifies a paradigm shift in the way we prioritise the different business segments and subsidiaries in the group’s portfolio."

KUALA LUMPUR: Malaysia Aviation Group (MAG) has completed its recapitalisation following the go-ahead given to MAG’s leasing entity, MAB Leasing Ltd, and the majority of MAG’s aircraft operating lessors.

MAG said in a statement on Monday the High Court of Justice of England and Wales has sanctioned a scheme of arrangement under Part 26 of the UK Companies Act 2006.