Malaysia and Thailand back flag carriers’ restructurings | News

Entities affiliated with the governments of Malaysia and Thailand have in recent days affirmed support for their respective flag carriers, both undergoing court-led restructurings.

Malaysia Airlines Group’s (MAG) sole shareholder Khazanah Nasional, Malaysia’s sovereign wealth fund, said in a 4 March statement announcing its 2020 financial results that it “continues to provide full support and close cooperation in the comprehensive efforts to ensure the national carrier’s sustainability post-pandemic”.

On 22 February, a UK court approved a scheme of arrangement between MAG’s leasing entity MAB Leasing and the majority of MAG’s operating lessors. The scheme was unanimously supported after one final lessor, which previously had faced challenges getting approval from its own financiers, consented to the scheme.

The approval followed months of what MAG described as…