Observers think AirAsia CEO Tony Fernandes would be the best at turning around Malaysia Airlines. Too bad he has his eyes peeled on transforming his own airline into a technology company.
The government is studying proposals it received for Malaysia Airlines, said Prime Minister Mahathir Mohamad.
The four proposals were mostly from local companies, who offered to either buy a stake in the flag carrier or to manage it, he told reporters near Kuala Lumpur on Tuesday. He didn’t name the companies that sent in the proposals.
“We must find somebody with experience,” Mahathir said.
It is highly unlikely that AirAsia is one of them. Skift understands that Tony Fernandes “would like to focus on transforming AirAsia into a travel and financial technology company.”
Malaysia is considering ways to turn around the troubled airline. Sovereign wealth fund Khazanah Nasional, its sole shareholder, demanded the carrier to come up with a strategic plan earlier this year, after the fund poured $1.5 billion (6 billion ringgit) into the company to make it profitable.
©2019 Bloomberg L.P.
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Photo Credit: Malaysia Airlines plane. Bloomberg