The Malaysian airline’s restructuring exercise is about to end as the parent company is sure about the success

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The parent company of Malaysian airlines, MAG (Malaysia aviation group), is about to end its restructuring exercise by the first quarter of 2021. The group also stated that they are also exploring a scheme for restructuring known as the UK Scheme of arrangement and the pending confirmation from all of the minority creditors.
Malaysian Aviation group stated that they have been discussing details with the creditors as well as gave warning in October to the leasing companies stating that Khazanah Nasional (the state fund as well as a sole shareholder) will stop their funding and will make them wind down the process if the restricting issues don’t fall through.
It is believed that the aviation group is also working on negotiating discounts through the restricting plan and as well as looking for implementation through the court process in the UK.
MAG commented that they had achieved a great amount of support through the large majority of their creditors on a base of consensual agreement and they are confident that this is going to be successful and win situation for all the creditors and they are looking forward to executing their long term plans
The Malaysian aviation group looked out for financial help in November from Khazanah after the government of Malaysia denied funding relief and a guarantee of debt. Khazanah stated that the funding would depend on the outcome of the discussion of MAG with their lessons and creditors.

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