For privatisation, they're going to be needing to find some well-heeled investors, each with a Scrooge McDuck-sized money bin, carrying 5kg cojones, and a willingness to bet everything on an industry, in which very few companies are making any money right now. Nor does the foreseeable future look any better, profit-wise.
I guess if the investors get a Govt guarantee, and own aircraft leasing companies, aircraft maintenance companies, airports, and a heap of all the other airline supporting industries, they might be prepared to risk a ringgit or three.
I'll quietly wager the Oracle of Omaha won't be one of those private investors.