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Malaysia Airlines shares to be halted on Friday: Sources

Published on Aug 7, 2014 10:41 PM
 
Ground staff prepare Malaysia Airlines planes for departure at Kuala Lumpur International Airport in Sepang on July 30, 2014. Malaysia Airlines plans to suspend its shares from trading on Friday, 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. -- PHOTO: AFP

KUALA LUMPUR (REUTERS) - Malaysia Airlines (MAS) plans to suspend its shares from trading on Friday, 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, whose official name is Malaysian Airline System, will be halted due to "a pending corporate announcement," according to the sources, who declined to elaborate. The sources declined to be identified as the matter was private.

The same sources told Reuters in early July that Khazanah, which owns 69 per cent of MAS, plans to take the airline private as a slump in business since the disappearance of Flight MH370 on March 8.

Loss-making Malaysia Airlines' problems deepened on July 17 when its Flight MH17 was shot down over Ukraine, killing all 298 people on board. That incident accelerated the government's plans to restructure the airline, the sources said.

 
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