Khazanah Nasional Bhd has dismissed a wire report that it is considering injecting RM5 billion capital for its struggling Malaysia Airlines Bhd.
Khazanah managing director Datuk Shahril Ridza Ridzuan told NST Business that the sovereign wealth fund was not planning to inject capital into the national carrier.
“It (report) is not true. We do not know where they (rumours) are from,” Shahril Ridza said via Whatsapp today.
It was reported earlier today that Khazanah was considering injecting a fresh capital of up to RM5 billion to allow Malaysia Airlines resume some operations it had suspended.
It was believed the cash infusion could happen in the coming weeks, the report revealed.
The report added that Malaysia Airlines, which has been struggling to turn around since it was taken private by Khazanah in 2014, would join carriers around the world in receiving a lifeline from their respective shareholders and governments.
Authorities worldwide have pledged more than US$85 billion to prop up airlines after the coronavirus pandemic wiped out travel demand and grounded fleets.
The report also said Hong Kong’s flag carrier Cathay Pacific Airways Ltd announced an HK$39 billion (US$5 billion) rescue package Tuesday that will leave the government with a 6.08 percent stake in the airline and two observers on the board. – NST