KUALA LUMPUR (REUTERS) - Malaysia's government will not privatise national carrier Malaysian Airlines (MAS) as efforts to turn its business fortunes around are bearing fruit, Prime Minister Najib Razak was quoted as saying by state media on Monday.
"Malaysia Airlines won't be privatised as the airline's turnaround plan shows narrowing losses," Mr Najib said, according to state-run Bernama news agency.
Shares in the airline surged more than 16 per cent on Monday after former prime minister Mahathir Mohamad was quoted as saying that he was supportive of a privatisation.
Mr Najib also added that privatisation is not necessary as MAS is already operating like a private entity.
“Every dealing in MAS is administered like a commercial body, following the principles of good governance," he was quoted as saying on news portal Malay Mail.