Monday, 30 Mar 2020 06:29 PM MYT
Economist Yeah Kim Leng said some airlines, especially private entities, might need to consider mergers or strategic alliances such as code-sharing agreements with other airlines in order to survive. Earlier today, Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed said airline companies, including some of the most well-known in the industry such Emirates and Singapore Airlines were facing their biggest challenge due Covid-19.
The national carrier Malaysia Airlines has also significantly reduced its overall network, due to the nationwide movement control order , which has been extended for another two weeks until April 14. “Ideally, from market perspective, the bankruptcy would be the least impact on tax payers’ money. But if they do not get bailout from governments, they may just have to file for bankruptcy.Worldwide, airlines are scrambling to secure bailouts and some have been successful. Some governments have already stepped forward in helping the industry to weather Covid-19 with relief packages based on waivers of fees and charges and state-backed loans, among others.
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