Malaysia Airlines shareholder Khazanah has not pledged funding- parent company says

Malaysia Airlines’ parent company has not received any commitment from sole owner Khazanah Nasional Bhd for 5b ringgit ($1.18b) in financial aid, the airline said on Thursday. Bloomberg earlier reported that Khazanah, Malaysia’s sovereign wealth fund, was considering providing as much as 5b ringgit for the national carrier to resume operations halted due to the coronavirus pandemic. The Bloomberg report said the cash infusion could happen in the coming weeks, if approved. Malaysia Aviation Group said it had not received any funding commitment to ride out the slump in bookings but Khazanah has been supportive of the group’s efforts to address and cope with the pandemic impact. “As we are currently realigning our Long Term Business Plan to the changing aviation landscape, we are in continuing discussions with Khazanah on the level of support needed moving forward,” it said. The airline group has said previously it was working closely with shareholder Khazanah Nasional for financial support while also taking steps to defend its cash position to sustain business during the coronavirus crisis.<br/>