MAG gets nod for restructuring plan

MAG group chief executive officer Izham Ismail said the longer-term vision of MAG is to establish itself as a leading global travel group.

PETALING JAYA: Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, will now be able to realise its restructuring plan for the national carrier, with the UK court approval for a scheme of arrangement with its creditors.

MAG said in a statement now that the scheme had been formally sanctioned by the UK court, the airline could proceed to implement its restructuring plan, which is expected to complete next month with the support of its sole shareholder Khazanah Nasional Bhd and existing stakeholders, ensuring the future of the flag carrier of Malaysia and providing essential connectivity to the nation.

Izham Ismail