Malaysia Airlines seeks aid from wealth fund Khazanah

KUALA LUMPUR, Nov 21: Malaysia Airlines’ parent company has sought financial aid from its sole shareholder, the nation’s sovereign wealth fund, as debt restructuring talks with creditors drag on, the company said on Saturday. “Malaysia Aviation Group has requested financial support from our shareholder Khazanah Nasional although the company isn’t in a position to comment on amount at this point in time,” it said in an email to Reuters. The group said it remains in talks for a restructuring and that it was targeting a commercial agreement in the first week of December. The airline could be seeking as much as $500 million, said Malaysia’s Edge weekly, which first reported the news, citing unnamed sources.

— Reuters