MAS working closely with Khazanah for financial support

A Malaysia Airlines plane sits on the taxiway at the Kuala Lumpur International Airport in Sepang, 10 July 2001. Malaysia Airlines will be allowed to raise fares by 20-30 percent on its loss-making domestic routes as part of moves to return to profitability in two years. AFP PHOTO/Jimin LAI (Photo by JIMIN LAI / AFP)

According to a news report by Reuters, Malaysia Airlines is working closely with Khazanah Nasional for financial support.

The airlines is also taking steps to defend its cash position to sustain business during the crisis.

“We have taken hard measures to aggressively defend our cash position including capacity and resource management, deferring non-critical spend, and implementing cost cutting initiatives across the business,” Reuters reported.

The crisis which had impacted the airlines has forced the group the offer unpaid leaves as well as induced salary cuts among high-income earners in order to continue sustaining the company’s cash flow.

The Group which includes budget airline Firefly will continue to operate to facilitate essential movements.

Its cargo unit on the other will continue to serve global supply chains transporting time-sensitive supplies.

The airline has also urged issues such as over-supply and long-term sustainability to be addressed holistically, further hinting that better regulations and policies are needed to tackle the ongoing situation.

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