I refer to media reports that say MAS can save up to RM649 million. This headline is misleading and does not give the complete picture.

The savings is from lower payment to Penerbangan Malaysia Berhad (PMB) which is a 100% owned company by the Ministry of Finance (MoF). This means, it is ultimately owned by the rakyat and the poor taxpayers.

Any lower payment from MAS which is a public-listed company and only 69.33% owned by the Ministry of Finance eventually means taxpayers are losing out and are continuously forking out a subsidy to somewhat distort the true profitability or losses of MAS.

It is time the government completely disband the ill-advised ‘Widespread Asset Unbundling’ restructuring which has clearly not been successful and merely postponed the inevitable.

In fact, it is been talked about that PMB is being progressively shut down and only a skeleton crew will remain to carry on administrative and financial operating requirements.

The Widespread Asset Unbundling restructuring is a good example in that any short-term ‘fix’ is not a good solution.

To his credit, the former managing director of MAS, Idris Jala, has publicly said that MAS should take over and control its own planes. This is a wise man indeed.

No matter how you spin it , the outcome is still the same - MAS financial a operating results must be read together with the results of PMB as it is basically the same costs.

Just that when it is paid by PMB, then it is 100% carried on the shoulders of the taxpayer.