Skift Take

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.

Privately held Weststar Group and Jentayu Danaraksa were among suitors for Malaysia Airlines, Edge newspaper reported earlier, without saying where it got the information.

©2019 Bloomberg L.P.

This article was written by Anisah Shukry from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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Tags: airasia, malaysia airlines, tony fernandes

Photo Credit: Malaysia Airlines plane. Bloomberg

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