KUALA LUMPUR: Malaysia Airlines (MAS) plans to suspend its shares from trading today, two sources familiar with the situation said, likely paving the way for state investor Khazanah Nasional to take the airline private as a first step in a major restructuring.
Trading in the company will be halted due to “a pending corporate announcement”, according to the sources, who declined to elaborate.
A de-listing would pave the way for Khazanah, which is chaired by Prime Minister Najib Razak, to revive the ailing carrier, possibly by selling off its profitable engineering, airport services or budget airline units, trimming its payroll and installing a new management team.
MAS officials could not immediately be reached for comment on the share suspension. A Khazanah spokesperson said the fund could not comment on “speculation”. Reuters