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KLIA, 20 January 2021: Malaysia Aviation Group (“MAG” or “the Group”) has reached another major milestone towards securing its future today, by successfully obtaining approval from the UK Court to proceed with a major component of the comprehensive restructuring of the Group, following the severe impact of the COVID-19 pandemic on the travel and tourism industry globally. The restructuring is based on a revised long-term business plan and will pave the way for MAG to ensure its long-term sustainability together with the strong support from its shareholder and the large majority of its creditors.
The Board of Directors (Board) of Malaysia Aviation Group (MAG) and Malaysia Airlines Berhad (MAB) today announced Captain Izham Ismail as Executive Director and Group Chief Executive Officer (GCEO) designate with immediate effect.