Khazanah Nasional Bhd expects the global aviation industry to recover, at the earliest, by 2023, but believes Malaysia Airlines Bhd (MAB) has the right cost structure and balance sheet to tough it out.

Khazanah Managing Director Shahril Ridza Ridzuan said the industry’s recovery, especially in terms of revenue, would take years to be at par with pre-pandemic levels.

He said MAB’s wide-ranging restructuring plan...