Malaysia Airlines set for recovery, post-pandemic, Khazanah says

Under the restructuring plan, Khazanah was committed to inject up to RM3.5 billion over the course of the next five years, an essential move to give certainty to creditors so that in turn, they could provide the kind of discounts, haircuts and debt-to-equity convergence that are required to fix the airline's balance sheet. - Bernama File Pic

KUALA LUMPUR: Khazanah Nasional Bhd expects the global aviation industry to recover at the earliest, in 2023 or 2024, but believes Malaysia Airlines Bhd has the right cost structure and balance sheet to ride through the tough journey, post-pandemic.

Managing director Datuk Shahril Ridza Ridzuan said the industry’s recovery, especially in terms of revenue, would take years to be at par with that during pre-COVID and very much depends on how the pandemic phases out; the reopening of international borders; and travel demand.