Malaysia's sovereign wealth fund Khazanah Nasional will make a decision in the third quarter on a turnaround plan for the parent company of Malaysia Airlines. Malaysia Aviation Group (MAG) tells FlightGlobal that the plan was submitted in February, and coversits airline units Malaysia Airlines, Firefly, MASwings and MAB Kargo, as well as its its wider, non-airline operations. "The plan will look at diversifying the group’s overall revenue by driving growth in other aviation related portfolios," it adds. Khazanah took the carrier private in late 2014 after it was rocked by the disappearance of flight MH370 and the shooting down of flight MH17. That kicked off a 12-point, MYR6 billion ($1.44 billion) restructuring plan, which envisioned the airline re-listing on the Malaysian stock exchange once it is profitable.

Source: FlightGlobal

Two of Jet Airways' creditors have started court proceedings that could bankrupt the carrier potentially jeopardizing the planned sale of the grounded carrier. The Mumbai bench of the National Company Law Tribunal has fixed a 13 June date to hear pleadings from truck dealer Shaman Wheels and water bottler Gaggar Enterprises to declare the airline insolvent. Etihad Airways and Indian conglomerate Hinduja Group have both indicated that they could invest in the carrier, but there has been little sign of any progress towards a sale.

Referece: FlightGlobal

Ryanair has detailed plans to set up a unit in Malta, adding to its growing stable of airlines. The Irish carrier will move six Malta-based Boeing 737s into start-up Malta Air and plans to grow the fleet based in the country to 10 aircraft within three years. In addition, 200 crew will move to local Maltese contracts, and Ryanair says it plans to create 350 jobs over three years.
Ryanair has detailed plans to set up a unit in Malta, adding to its growing stable of airlines.

The Irish carrier will move six Malta-based Boeing 737s into start-up Malta Air and plans to grow the fleet based in the country to 10 aircraft within three years.

In addition, 200 crew will move to local Maltese contracts, and Ryanair says it plans to create 350 jobs over three years.

Ryanair says the investment will give it access to North Africa markets from Malta. The Maltese government had on 9 June disclosed an outline of the plans saying that the Ryanair initiative would help develop the island nation into a southern European transit hub. "Malta Air will proudly fly the Maltese name and flag to over 60 destinations across Europe and North Africa as we look to grow our Maltese-based fleet, routes, traffic and jobs over the next three years," states Ryanair chief executive Michael O'Leary. "We look forward to working closely with the Maltese authorities over the coming years as we hope to add over 50 more aircraft to the Maltese register," adds O'Leary.

Source: FlightGlobal