Tuesday, 23 Feb 2021 05:13 AM MYT
MAG, parent of Malaysia Airlines, said on Monday the scheme received unanimous support of relevant lessors and represented an important component of a wider restructuring which will help to reduce its liabilities of more than RM15 billion . The restructuring marks a step forward for the company which has been long been burdened with high costs and more recently the fallout from the coronavirus pandemic.
MAG said under the restructuring, expected to complete in early March, the airline will achieve bilateral agreements with finance lessors, spare engine lessors, maintenance service providers, corporate lenders, and government-related entities.
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