PMB Snapshot
Malaysian government-owned holding company Penerbangan Malaysia Berhad (PMB) is working to help Malaysian Airlines regain financial altitude. PMB was formed in 2002 as part of the restructuring of Malaysian Airline System (MAS) and its Malaysian Airlines unit. The restructuring gave PMB ownership of the carrier's fleet, which it leases back to MAS. PMB assumed MAS's long-term debt and took responsibility for the airline's money-losing domestic operations, but in 2006 the government reassigned most domestic routes to AirAsia and MAS reassumed its remaining domestic business. PMB owns a 52% stake in MAS and buys, sells, and leases aircraft and aircraft engines through subsidiary Aircraft Business Malaysia.