Malaysian sovereign wealth fund Khazanah Nasional has hired Morgan Stanley to explore strategic options for the future of Malaysia Airlines (MH, Kuala Lumpur International), financial daily The Edge Malaysia has reported.
The bank will evaluate possible options for the privatisation of the carrier, which is currently wholly-owned by Khazanah. Other options for securing the carrier's future are also under consideration. Khazanah aims to arrive at a solution by the end of the year, although the timeline is subject to change.
Malaysian Prime Minister Mahathir Mohamad said earlier this year that the country's government was unwilling to further support the loss-making carrier. Initially, he suggested that it could be shut down, although he later retracted this statement and focused on finding a strategic investor.
Meanwhile, the carrier has said in a press release that it has established, in partnership with TUI Group, a new travel marketplace - MHholidays. The platform allows customers to book accommodation, as well as packages combining a flight and a stay.
"In addition to that, travellers who book packages on MHholidays will also earn Enrich miles on every flight portion; allowing them to contribute to future holidays. In the future, MHholidays will also be expanding beyond flights and hotels to include ground transfers, tours and more," Group COO Ahmad Luqman bin Mohd Azmi said.
