Malaysian Airlines to be delisted for ‘complete overhaul’
Malaysia Airlines is to be delisted to allow a ‘complete overhaul’ of the troubled airline.
Malaysia’s state investment firm Khazanah Nasional, which currently owns 69.4% of the airline, wants to buy out minority shareholders so it can start a restructuring plan.
There has been concern over the future of the airline following two disasters this year – the crash of flight MH17 in Ukraine and disappearance of flight MH370.
The company has been losing money for many years as the area has been flooded with low cost rivals and its market value has fallen by more than 40% in the past nine months.
Khazanah, which has invested more than $1bn into the airline in recent years, said it would look at restructuring all aspects of the airline’s operations including its business model, finances and human capital.
"Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity," the fund said in a statement.
Diane
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