Malaysia Aviation Group Bhd is weighing the sale of a minor stake in its air cargo unit to a strategic partner, according to people familiar with the matter. The parent of Malaysia Airlines Bhd. has invited banks to submit proposals as it seeks ways to expand the business, the people said, asking not to be identified because the information is private. A deal could value the unit, known as MASkargo, at more than $1 billion, the people said. Malaysia Aviation Group may also seek as much as … [Read more...] about Parent company weighs minor stake sale in MASkargo
Malaysia Aviation Group
Malaysia Aviation Group names new CEO for Malaysia Airlines
Malaysia Aviation Group Bhd (MAG) has appointed Peter Bellew as the new group managing director and CEO of Malaysia Airlines Bhd (MAS) in place of Christoph Mueller who resigned unexpectedly after serving about half his three-year term. Bellew, who is currently the chief operating officer, begins his term from tomorrow, 1 July. Malaysia Airlines now has its third CEO in two years following two fatal air crashes in 2014 that devastated the already unprofitable carrier. Khazanah Nasional Bhd - … [Read more...] about Malaysia Aviation Group names new CEO for Malaysia Airlines
MASkargo becomes MABkargo, to operate on own AOC next year
The Malaysia Aviation Group (MAG) - an entity which pools subsidiary Malaysia Airlines Bhd, other related companies and equity investments into four distinct business segments - has established a new, stand-alone cargo unit named MABkargo (formerly MASkargo), outgoing CEO, Christoph Mueller, has announced. Unveiling the holding firm's structure, Mueller said MABkargo is expected to secure its own AOC from the Malaysian Department of Civil Aviation (DCA) next year and operate separately from … [Read more...] about MASkargo becomes MABkargo, to operate on own AOC next year