SINGAPORE/PARIS, Oct 9 (Reuters) - A gaggle of leasing firms has rejected a restructuring plan put
SINGAPORE/PARIS, Oct 9 (Reuters) – A gaggle of leasing firms has rejected a restructuring plan put ahead by Malaysia Airways, bringing the provider nearer to a showdown over its future. Lessors claiming to symbolize 70% of the airplanes and engines leased to the group have referred to as the plan “inappropriate and fatally flawed” and pledged to problem it, based on folks aware of the matter and a letter from a London legislation agency seen by Reuters.
Nevertheless, some leasing firms have endorsed the plan, one of many folks stated.
Neither the legislation agency nor the airline’s mum or dad firm, Malaysia Airways Group (MAG), was accessible for remark. The letter additional raises the stakes after Reuters reported the airline group had warned lessors that its Malaysian state shareholder would push the provider into liquidation if restructuring talks had been unsuccessful. The airline is one among dozens severely hit by the coronavirus disaster, which has battered demand for air journey.
(Reporting by Anshuman Daga, Tim Hepher Modifying by Marguerita Choy)
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