Private firm bids RM10.9b for Malaysia Airlines, funded by European bank

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Privately-held Golden Skies Ventures (GSV) has made a US$2.5 billion (RM10.91 billion) offer to fully take over the holding company of ailing state carrier Malaysia Airlines, with financing from a European bank, its executives told Reuters on Monday. Malaysian firm GSV made the proposal a month ago, as airlines around the world were hammered by travel restrictions following the coronavirus pandemic. “(We have secured) in excess of US$2.5 billion from the bank. We will take about three to four months to get the long-term financing,” GSV chief executive Shahril Lamin told Reuters in a phone interview. GSV also has a commitment from a Japanese private equity firm to inject immediate funds into the aviation group through an equity deal. The Edge weekly had first reported GSV's proposal over the weekend. GSV declined to name the firms involved and said it was also in talks with othe…