Khazanah to pump 3.6 bln rgt to fund MAG until 2025 Group restructuring expected to complete early March Seeking to expand products, services beyond flights - CEO (Adds CEO’s quotes)
KUALA LUMPUR, Feb 22 (Reuters) - Malaysia Aviation Group obtained court approval in Britain on Monday for a deal between its leasing unit and a majority of its aircraft operating lessors, allowing it to begin a restructuring plan with new capital of 3.6 billion ringgit ($891 million).
MAG, parent of Malaysia Airlines, said the scheme received unanimous support of relevant lessors and represented a key component of a wider restructuring which will help to reduce its liabilities of more than 15 billion ringgit.
The European Union will call on financial leaders of the world's 20 biggest economies this week to keep pumping money into the global economy as long as is needed for it to recover from the COVID-19 pandemic, a document prepared for the meeting showed.
Moderate inflation and a stable near-term outlook warrant keeping India's monetary policy accommodative to support a broad-based recovery from the pandemic, minutes of the latest monetary policy committee meeting showed on Monday.
Sterling looks set to extend its rally beyond $1.40, thanks to the pace of Britain's COVID-19 vaccine rollout and signs that investors are flocking back to assets out of favour during years of Brexit turmoil.