MAG: Aircraft lessors to vote on Malaysia Airlines restructuring on 10-Feb-2021

Malaysia Airlines Group (MAG) reported aircraft operating lessors plan to vote on Malaysia Airlines' restructuring scheme on 10-Feb-2021 (Reuters, 06-Feb-2021). The lessors are among 40 creditors owed approximately MYR16 billion (USD3.9 billion) by the carrier. As previously reported by CAPA, in Jan-2021 MAG stated it had "full support" from a large majority of creditors for a consensual agreement. MAG CEO Izham Ismail said the company would have "no choice" but to shut down if lessors choose not to back the restructuring plan. Malaysia's Ministry of Finance stated it would not be injecting any more cash in the group, leaving the final funding decision to Khazanah Nasional.