The sovereign wealth fund is skeptical on the proposal, saying that Golden Skies had not been able to prove its source of funding.
Khazanah managing director Datuk Shahril Ridza Ridzuan said it would be “cautious” on whether the offer was made with financial backing, given the global airline crisis and credit risk aversion. “Plus their original proposal relied 100 per cent on debt funding from third parties. They do not have any equity of their own,” Shahril told the New Straits Times today.
Khazanah is Malaysia Airlines' sole shareholder through its holding company Malaysia Aviation Group . Reuters today reported that Golden Skies had secured loans in excess of US$2.5 billion from a European bank and would take up to four months to get the long-term financing.The company reportedly declined to reveal the firms involved and said it was also in talks with other foreign banks and private equity firms for further funding.Air France-KLM, Japan Airlines and domestic carriers AirAsia Group Bhd and Malindo Air were previously said to have shown interest in Malaysia Airlines.
They should take JAL offer..
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