PUTRAJAYA: National carrier Malaysia Airlines (MAS) will not be privatised due to the ongoing recovery plans which are showing results, Prime Minister Najib Tun Razak said today.
Najib who was at the Malaysian Treasury’s (Finance Ministry) Hari Raya celebration said that results cannot be expected overnight.
“We will continuously monitor MAS’ journey. Right now, the most important thing is the trend of losses which has been reduced.
“In time, MAS will achieve improvements,” he said.
Yesterday, former prime minister Dr Mahathir Mohamad said that MAS should be privatised to increase company profits.
Mahathir said that as long as MAS remained a GLC (government-linked company), it would be difficult for the conglomerate to achieve high-profit status.
“This is the difference between conventional business by parties who work for profit without interest in the company’s profit-making.
“Privatising MAS would increase the company’s profits,” Mahathir said.
No deadline set
Najib added that as a Khazanah listed company, all dealings in MAS go according to that of a commercial body.
Elaborating on the monitoring efforts, Najib said that efforts will be done to ensure that the national carrier continuous to improve based on the recovery plan.
“Several steps will be taken to improve MAS’ standing,” he said.
He also expressed hope for MAS to gain profit in the near future as parallel with the improving trend of losses.
Najib however admitted that no deadline has been set in view of MAS’ full recovery.
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