MAS to sale-leaseback entire fleet

Dino D'Amore
By Dino D'Amore December 15, 2014 22:11

MAS to sale-leaseback entire fleet

Jentayu Danaraksa Sdn Bhd is proposing to help Malaysia Airlines (MAS) stablise its financial position by owning its aircraft via a plane-leasing plan.

Managing director Feriz Omar said that the company would takeover Penerbangan Malaysia Bhd (PMB), which owns MAS aviation assets, from Khazanah and create a new international aircraft leasing company named JD Leasing.

“This is in order to help rejuvenate the airline’s future cash flows and profits via the acquisition of the airlines planes which we will then lease back to MAS,” he said.
“Under the proposal, we will assume US$1 billion (RM3.5 billion) bonds due 2016 with assets reflecting the true enterprise value of PMB.”

Dino D'Amore
By Dino D'Amore December 15, 2014 22:11