Malaysia Airlines Enrich Restructuring Email

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The change of legal entity behind of Malaysia Airlines and the mass lay offs have been in the news here in Asia a lot in the past few days.

Malaysia Airlines Enrich

The Malaysia Airlines must have received calls and emails from Enrich program members as they sent out the following email today:

It is a pleasure to write to you with the latest news of our restructuring programme as it nears completion. This programme was initiated last August to create a profitable and financially sustainable national carrier.

We are happy to report that we continue to make good progress. It was announced today that MAS’s sole shareholder, Khazanah Nasional Berhad (Khazanah), has appointed Dato’ Mohammad Faiz Azmi of PricewaterhouseCoopers, as Administrator of MAS. The administration is a voluntary undertaking by Khazanah, Malaysia’s sovereign fund, and is backed by the Malaysian Airline System Berhad (Administration) Act 2015 (MAS Act) enacted by the Government of Malaysia.

This appointment does not affect our daily operations or existing reservations. You can continue to make reservations in full confidence that our flights and schedules are operating as normal, that tickets sold will be honoured, and that our Enrich frequent flyer programme continues with Miles and status preserved.

Under the MAS Act, the Administrator plays a critical role, which includes facilitating the transfer of selected assets and liabilities to a new company, MAB, which will replace MAS as Malaysia’s new national carrier. The appointment of the Administrator reflects the continuing and considerable effort towards the beginning of a new airline, MAB. We intend the transition to MAB to be seamless with no interruption to airline services.

MAB will become operational on 1 September 2015, with a new business model and a new management team, which will be led by Christoph Mueller, CEO of Malaysia Airlines and CEO-Designate of the new airline. These upcoming changes will not have an impact on flights, schedules, or the Enrich programme.

Our relationship with you is extremely important to us. I will keep you updated as we progress through this critical phase. In the meantime, please do not hesitate to contact me if you have any questions or concerns.

Thank you for your continued support.

Conclusion

So, a Malaysian government own investment fund is taking over the airline and is going to have a fresh start in September. Some news paper was reporting that there could be some new branding too.

Not sure how this is going to change the situation surrounding the new entity, as some may suggest that government meddling with it was the reason for the failure (contracts awarded for Friends & Family etc).

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