Malaysia Airlines (MH, Kuala Lumpur International) parent, Khazanah, has dismissed a proposed rescue plan for the carrier pitched by local Malaysian financial advisory firm, Jentayu Danaraksa.

According to Malaysian media, Khazanah cancelled a meeting with Jentayu Danaraksa representatives scheduled for last week claiming the fund had acted "unprofessionally" by outlining its proposal in public before first discussing it with the country's sovereign investment fund in private.

While the meeting has been deferred, no actual later date has yet been fixed.

Under its MYR8.75billion (USD2.50billion) proposal, Jentayu Danaraksa would acquire Penerbangan Malaysia Bhd (PMB), Malaysia Airlines' parent prior to its sale to Khazanah, and establish a "premium economy" airline called Fly JD and a leasing firm called JD Leasing. Key to the project would have been the recruitment of over 6'000 Malaysia Airlines staff, slated to be dismissed as part of Khazanah's USD1billion restructuring plan.

Khazanah says that as of late November, it has received no less than 28 business proposals expressing interest in participating in or complementing its five-year plan.