Saturday, 6 June 2020

Petronas CEO will run Malaysia Airlines

Wan Zulkiflee Wan Ariffin, President and Chief Executive Officer of state oil firm Petronas, has been appointed by the country's Prime Minister Muhyiddin Yassin, as chairman of the struggling Malaysia Airlines, it was confirmed on Saturday.

According to a statement from the office of the Prime Minister Wan Zulkiflee will assume the role as chairman on 1st July.   His role at the energy firm will be taken on by Tengku Muhammad Taufik Tengku Aziz, the executive vice president and group chief financial officer. 

The Malaysia Aviation Group (MAG) is a rather large and somewhat unruly organisation with a number of subsidiaries split into four distinct business segments: Air Transportation Services, Ground Services, Aircraft Leasing and Talent Development. 

The group's structure was reorganized and updated to create more transparency and a focused management operation over the whole group. 

Apart from ensuring better transparency and governance, the business segments will have the flexibility to explore collaborative opportunities for raising capital, making the subsidiaries more competitive and responsive, thus strengthening the firm's position in the market.

The largest contributing segment of the Group is our Air Transportation Services which houses Malaysia Airlines Berhad, Firefly and MASwings, network carriers serving the global and domestic markets and all passenger segments. Also under the umbrella is the division MAB Kargo providing standard, express and special cargo, as well as Amal, the pilgrimage arm of Malaysia Airlines dedicated for Hajj and Umrah. The Group also includes ground handling services, engineering, training facilities as well as a dedicated aircraft leasing company to provide customised and competitive aviation leasing solutions.

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