Firm plans $2.5 bln capital boost in Malaysia Airlines takeover bid - report

A Malaysian company has proposed a fresh capital injection and to assume the debts of Malaysia Airlines (MAS), in a formal takeover bid of the ailing national carrier, according to a report by The Edge Malaysia. The Malaysian government has been seeking a strategic partner for its national airline, which has struggled to recover from two tragedies in 2014 - the mysterious disappearance of flight MH370 and the shooting down of flight MH17 over eastern Ukraine. Golden Skies Ventures, a firm set up earlier this year by ex-MAS employees and private individuals, has offered a capital injection of US$2.53b and to assume the airline’s full outstanding Islamic bonds or sukuk, its CE Shahril Lamin was quoted as saying by The Edge. In return, GSV is seeking 100% equity of Malaysia Aviation Group Bhd, which includes MAS and other subsidies such as MAB Kargo, MAB Engineering, Firefly and MASwings.<br/>