Malaysia's national airline group offers early retirement scheme
Malaysia Aviation Group, parent of national carrier Malaysia Airlines Bhd, has warned leasing companies that it is unlikely to be able to make payments owed
PHOTO: Reuters
PUBLISHED ONOctober 23, 2020 12:39 AM
KUALA LUMPUR - Malaysia Aviation Group (MAG), parent of national carrier Malaysia Airlines, has offered employees early retirement as the company continues negotiations with creditors and lessors, state news agency Bernama reported on Thursday (Oct 22).
Bernama said it had seen an application form for the scheme, aimed at employees across the airline group, including MAB and its sister airline, among other operations.
MAG did not respond immediately to a request for comment.
The group has warned leasing companies that it is unlikely to be able to make payments owed after November, and that state fund Khazanah Nasional will stop funding, forcing it into a winding down process if restructuring talks with lessors are unsuccessful, Reuters reported.