Sunday, October 25, 2020

No bailout for Malaysia Airlines, AirAsia, govt says

Finance minister says it is up to the shareholders to provide the necessary support.

Other News

Polis gesa semua pihak patuhi SOP Covid-19 di kawasan Istana Negara

Polis turut menasihatkan orang awam yang tidak mempunyai sebarang urusan agar tidak berada di kawasan luar pintu Istana Negara bagi mengelakkan kesesakan.

Henti semai kebencian, bersatu perangi Covid-19, kata Azmin

Adalah wajar dan tepat bagi semua pihak bersatu di belakang usaha mengurangkan pandemik dan melandaikan lengkungan Covid-19.

Graduan tinggalkan pasaran pekerjaan untuk perniagaan mikro

Semakin ramai golongan muda menggunakan media sosial dan internet untuk memulakan perniagaan mereka.

Why an emergency declaration is the only way to stop more Covid-19 spikes

No practical solution has been offered so far to overcoming the major reason for the spike in cases we see today: the holding of elections.

Graduates trade job market scrum for the world of micro-business

More youngsters are turning to social media and the internet to launch their own businesses.

Putrajaya says it will not bail out Malaysia Airlines or AirAsia, the country’s largest airlines which have taken the brunt of the recent lockdown and closure of borders to contain the Covid-19 pandemic.

Finance Minister Tengku Zafrul Tengku Aziz said the government would let Khazanah, which owns Malaysia Airlines, decide on the future of the company.

“The government feels at this point in time that we will not bail out any airlines.

“So, it’s up to the shareholders of the respective airlines to provide any support that they feel appropriate and necessary,” he told CNBC in an interview.

Malaysia Airlines has reported a 94% dip in its finances since travel restrictions were imposed across the world.

The company, which was already in trouble over the loss of its MH370 and MH17 flights six years ago, had been offering employees no-pay leave and implementing pay cuts for those in the higher salary bracket.

AirAsia and its sister airline AirAsia X meanwhile are said to be preparing for another round of lay-offs.

The group had reached out to the government but did not receive any feedback.

Subscribe to our newsletter

To be updated with all the latest news and analyses.

Related Articles

A journalist’s bout with Covid-19

Azrul Affandi Sobry, a journalist struck as he was on the line of duty covering the recent state election in Sabah admits that it wasn't entirely unexpected as the nature of the job entails jostling with others in order to land the story and also confesses that he could have done more to prevent it from happening.

Landing stories – and then some: A journalist’s bout with Covid-19

A journalist chasing stories on the Sabah polls tells of how his disregard for SOPs gave him more than he bargained for.

Spain becomes first EU nation with one million virus cases

Spain, which is home to around 47 million people, is only the sixth country in the world to cross this grim milestone.

Bulk of 3.1 million workers in 3 sectors can go to office ahead of WFH rule

Miti says only 25% of the total workforce should work from home, with some exceptions.

From translation tools to air purifiers, face masks go high-tech

Tech companies and researchers are rolling out weird and wonderful models to both guard against infection and cash in on a growing trend.