This speculated development follows a decision to enlarge the scope of the planned restructuring cum divestiture of state ownership of the national carrier. This proposal if pursued will see Treasury retaining 49% as part of taking over $500 million of debt of the national carrier.

The speculation of home grown consortium also comes in the aftermath of poor global response to the original Request for Qualification for the sale of entiretyof State holding in the national carrier.

Cabinet of Ministers at its meeting yesterday approved the shortlisting of three parties from the original RFQ process.

They are Air Asia Consulting of Malaysia, Hayleys PLC and Supreme Global Holdings/Sherisha Technologies Ltd., which has claimed backing by Qatari funding and an agreement with MMAG Holdings Bhd’s wholly-owned subsidiary MMAG Aviation Consortium Sdn Bhd (MAC).