PUTRAJAYA (Feb 5): The imposition of a RM10 million fine each against AirAsia Group Bhd, its subsidiary AirAsia X Bhd (AAX) and then Malaysian Airline System Bhd (MAS) over their short-lived collaboration was justified as their partnership went against competition laws, said the Malaysia Competition Commission (MyCC) today.
In his submission before the Court of Appeal to uphold the High Court s decision, MyCC counsel Datuk Lim Chee Wee said in 2010, MAS wanted to go head-to-head with AirAsia by having its own subsidiary, low-cost carrier (LCC) Firefly, ply some of the same routes.
He added that the Competition Act 2010 was supposed to promote economic development by promoting and protecting the process of competition, thereby protecting the interests of consumers , as per the act.
Decision to close Malaysia Airlines parent company not finalised, says Tengku Zafrul freemalaysiatoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freemalaysiatoday.com Daily Mail and Mail on Sunday newspapers.
Tuesday, 15 Dec 2020 10:00 PM MYT
MAB was established on November 7, 2014 to take over the operations, assets and liabilities of Malaysian Airline System Bhd (MAS) and MAB has been placed under MAGB which is wholly-owned by Khazanah. ― Picture by Miera Zulyana
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KUALA LUMPUR, Dec 15 The decision to close or terminate the operations of Malaysia Aviation Group Bhd (MAGB) has not yet been finalised and depends on the outcome of its negotiations with creditors and lessors to restructure the company.
Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said at the same time, the management of Khazanah Nasional Bhd, which fully owns MAGB, would also do its best to ensure the welfare of MAGB’s staff is safeguarded including, if necessary, appropriate compensation payments according to labour laws.
Tengku Zafrul: Decision to close MAGB not finalised theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.