Malaysia Airlines shares suspended pending restructuring announcement on Friday

Malaysia Airlines planes on the runway at the Kuala Lumpur International Airport. Trading of MAS shares was suspended on Friday ahead of a material announcement. -- PHOTO: REUTERS
Malaysia Airlines planes on the runway at the Kuala Lumpur International Airport. Trading of MAS shares was suspended on Friday ahead of a material announcement. -- PHOTO: REUTERS

KUALA LUMPUR (REUTERS) - Trading of shares of Malaysia Airlines (MAS) is suspended on Friday ahead of a material announcement.

MAS said its shares will be suspended from 9am local time (0100 GMT), confirming an earlier report by Reuters.

The share suspension comes ahead of the announcement of the airline's planned restructuring, which could include job cuts and a change in top management.

Khazanah Nasional, the airline's majority shareholder, will be holding a press conference on MAS at 3pm local time(0700 GMT) on Friday.

MAS reported a net loss of RM307.04 million (S$121.74 million) in its second quarter and said its earnings in the second half will be hit by lower passenger bookings after the two jet disasters this year.

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