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MAS will get reply in 3 months, says Khazanah MD
KUALA LUMPUR: Malaysia Airlines (MAS) can expect to receive a reply to its request for RM2bil funding in as soon as three months, said Khazanah Nasional managing director Datuk Azman Mokhtar.
“The timeline of the restructuring plan is very intense. It will need to have (the funding) in place in the short run,” he told reporters after the forum on New Approach by GLCs to Build SMEs organised by Bumiputra Manufacturers & Services Industry Association yesterday.
He said, however, that the financial support would be “at arm’s length basis; so (there's) no free lunch or bail-out. We are going to make money on it,” he said, adding that MAS needed to perform.
Azman said the airline's proposed restructuring plan was well thought of and that the direction was clear. “The government has given it the room even to take the tough action,” he added.
MAS managing director Idris Jala said part of the route rationalisation plan for Europe involved focusing on four trunk lines - London, Paris, Amsterdam and Rome - instead of point-to-point routes.
The airline is expected to begin talks next week to join the global alliance, SkyTeam.
On the delay in implementing the domestic rationalisation plan, Idris said it would take time to restructure MAS' network; hence the airline could only take over domestic operations from the government beginning 2007. MAS also plans to reduce flying unprofitable domestic routes.
Idris said the airline had proposed a 10% increase in domestic fares, which would be MAS' first fare increase in 13 years. “We also want to implement an administration fee of RM14 per passenger domestically, which is already being implemented by AirAsia,” he added.
- the star online-
FRA salta FCO resta (anche se non penso salterà nemmeno FRA) [8)]
MAS will get reply in 3 months, says Khazanah MD
KUALA LUMPUR: Malaysia Airlines (MAS) can expect to receive a reply to its request for RM2bil funding in as soon as three months, said Khazanah Nasional managing director Datuk Azman Mokhtar.
“The timeline of the restructuring plan is very intense. It will need to have (the funding) in place in the short run,” he told reporters after the forum on New Approach by GLCs to Build SMEs organised by Bumiputra Manufacturers & Services Industry Association yesterday.
He said, however, that the financial support would be “at arm’s length basis; so (there's) no free lunch or bail-out. We are going to make money on it,” he said, adding that MAS needed to perform.
Azman said the airline's proposed restructuring plan was well thought of and that the direction was clear. “The government has given it the room even to take the tough action,” he added.
MAS managing director Idris Jala said part of the route rationalisation plan for Europe involved focusing on four trunk lines - London, Paris, Amsterdam and Rome - instead of point-to-point routes.
The airline is expected to begin talks next week to join the global alliance, SkyTeam.
On the delay in implementing the domestic rationalisation plan, Idris said it would take time to restructure MAS' network; hence the airline could only take over domestic operations from the government beginning 2007. MAS also plans to reduce flying unprofitable domestic routes.
Idris said the airline had proposed a 10% increase in domestic fares, which would be MAS' first fare increase in 13 years. “We also want to implement an administration fee of RM14 per passenger domestically, which is already being implemented by AirAsia,” he added.
- the star online-
FRA salta FCO resta (anche se non penso salterà nemmeno FRA) [8)]
