KUALA LUMPUR: The newly established Malaysia Aviation Group Bhd (MAG), an entity under Khazanah Nasional Bhd, will drive better transparency and focused management across its subsidiaries and improve operational efficiency.
MAG is a global aviation group with subsidiaries and equity investments, organised into four distinct business segments, namely air transportation services, ground services, aircraft leasing and talent development.
The air transportation services division, which houses Malaysia Airlines Bhd, Firefly Sdn Bhd, MASwings Sdn Bhd and MAB Kargo Sdn Bhd will be the largest contributing business segment.
In a statement today, Malaysia Airlines said also under the umbrella is the division MAB Kargo, providing standard, express and special cargo, which would apply for its own Airline Operating Certificate and would operate as a separate company as of 2017.
The ground services and engineering division comprises AeroDarat Services Sdn Bhd and MAB Engineering, while MAB Leasing and MAB Pesawat are under the aircraft leasing division and MAB Academy is under the talent development division.
MAG Chief Executive Officer, Christoph Mueller, said the new group would align structures and processes more consistently to the needs of its customers and raise overall efficiency.
"Going forward, the new structure will support every business unit's capability to access the capital market with its own value proposition," he added.
The team of board members of Malaysia Airlines, who remain unchanged, will also sit on the board of MAG.
Source: Bernama | 19 May 2016
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