State fund appoints administrator for Malaysia Airlines restructuring

KUALA LUMPUR Malaysia’s Khazanah Nasional [KHAZA.UL] said it had appointed Mohammad Faiz Azmi to oversee the restructuring of now delisted Malaysian Airline System Bhd into a new company that will be owned by the sovereign fund.

Azmi will oversee the transfer of the assets and liabilities of MAS and the new company, Malaysia Airlines Bhd, is due to start operating by September, Khazanah said in a statement.

Khazanah took MAS private last year as part of a 6 billion ringgit ($1.66 billion) restructuring aimed at returning the troubled carrier to profit.

(Reporting By Al-Zaquan Amer Hamzah- Editing by Miral Fahmy)