MAS will not seek additional funds from Khazanah – Bellew

 |Oct 11, 2016
Malaysia Airlines Berhad (MAB) will not seek for additional fund from Khazanah
Malaysia Airlines Berhad (MAB) will not seek for additional fund from Khazanah

Malaysia Airlines Berhad (MAB) will not seek for additional funding from its shareholder Khazanah Nasional Berhad said it’s CEO Peter Bellew.

According to Bellew, MAB has agreed programs and has been meeting all the targets set by Khazanah.

He also hoped the plans to be executed earlier than the targets, told this after announcing MAB is now the official global airline for Liverpool FC today.

Bellew added that the carrier’s load factor has been around 71-73% over the last couple of months and it is aiming to increase it to 80% in the next 18 months.

Khazanah is the sole shareholder for MAB.

He said China’s market was among MAB’s busiest sectors currently with available seat kilometers expected to double in the next 18 months from the current 6%.

He said the airline would also make more announcements in the next few weeks with regards to the Chinese route.

MAB also plans to charter its six A380 aircraft to global airlines from next year onwards, instead of selling the assets as initially planned, whereby the airline would provide the crew, as well as engineering, technical and training support.

On oil price hedging, Bellew said MAB had been hedging the oil forward up to a year now so it could have certainty on operating cost.