Tag: airline industry

Not bailout but reboot

Public funds to save airline companies hit by Covid-19   KUALA LUMPUR: Injecting public funds to save airline companies that have been badly affected by the Covid-19 pandemic should not be seen as a bailout, said the National Union of the Flying Attendants of Malaysia (Nufam). Its president Ismail Nasaruddin said the massive ‘overnight’ losses […]

Airline’s debt to balloon to $550 bln by year-end

KUALA LUMPUR: The airline industry’s debt could rise to $550 billion ($1= RM4.36) by year-end, a massive 28 per cent or $120 billion increase over levels at the start of the year, according to the International Air Transport Association (IATA). In total it said, governments had committed to $123 billion in financial aid to help airlines […]

Malaysia Airlines, AirAsia merger unlikely

KUALA LUMPUR: Aviation is among the sectors hardest hit by the Covid-19 pandemic, possibly driving many airlines into technical bankruptcy. For Malaysia’s major airlines, experts say a rescue plan is a must but merger is an unlikely option. Shukor Yusof, head of aviation consultancy Endau Analytics, said a merger between Malaysia Airlines Bhd (MAB) and AirAsia Group would harm Malaysian consumers by creating a monopoly on […]