(Reuters) – Malaysia Airlines may have to fold if its lessors decide not to back its latest restructuring plan, the airlines’ group chief executive was quoted.
A group of leasing companies has rejected the restructuring plan put forward by Malaysia Airlines, bringing the state carrier closer to a showdown over its future, Reuters reported on Friday.
In an interview with The Edge weekly, Malaysia Airlines group chief executive officer Izham Ismail said the group would have “no choice but to shut it down” if lessors decide against backing the restructuring plan.
Malaysia Airlines Berhad (MAB) (Malay: Penerbangan Malaysia Berhad), formerly known as Malaysian Airline System (MAS) (Malay: Sistem Penerbangan Malaysia), branded as Malaysia Airlines is the flag carrier airline of Malaysia and a member of the oneworld airline alliance. (The MAS initials are still being kept by subsidiaries MAS Kargo and MAS Wings.) The company headquarters are located at Kuala Lumpur International Airport.