LETTERS: THE aviation industry has faced unprecedented challenges in the wake of the Covid-19 pandemic.
Airlines around the world have struggled to stay afloat, and Malaysia Airlines (MAS) is no exception.
The national carrier has been in dire need of a financial and operational overhaul for some time now.
But, the brilliant AirAsia and MAS 'share swap' deal (which was halted almost 12 years ago) has sparked fresh discussions.
One of the key reasons the government (through its investment arm - Khazanah Nasional) should embrace the 'share swap' deal is because of AirAsia's most valuable asset — its leadership.
The three co-founders of AirAsia namely Tony Fernandes, Kamarudin Meranun, and Aziz Bakar, are widely regarded as some of the most successful and visionary business leaders on the global stage.
Their experience, expertise, and leadership skills are what Malaysia Airlines needs to turn itself around.
It is a unique opportunity for the government to step back and allow genuine entrepreneurs and business leaders to take the lead in rejuvenating the national carrier.
In addition to leadership, AirAsia also brings a wealth of operational and bankable synergy to the table.
The low-cost carrier has built a reputation for being one of the most cost-efficient airlines in the world, and it has achieved this by embracing innovative technologies and adopting a customer-focused approach.
These are the strategies that MAS needs to embrace to remain competitive in the next modern pandemic and future business setting.
It is worth noting that the share swap deal between AirAsia and MAS is not just about financial stability and operational efficiency.
It is also about providing a strong, competitive, and business-centric national carrier.
Hence, injecting an excessive amount of taxpayer money into MAS has proven to be a significant mistake, as the airline has yet to achieve financial stability and profitability.
By embracing the business logic of the share swap deal, the newly appointed Prime Minister Datuk Seri Anwar Ibrahim and his administration can help to restore Malaysia Airlines to its former glory.
FATOS OTHMAN
Kuala Lumpur
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times