Malaysia Airlines to delist from stock exchange after MH17, MH370 crises
Troubled carrier suspends share trading as it reels from fallout of twin tragedies
Malaysia plans to delist Malaysia Airlines from stock exchange, which would make it fully owned by the state, reports said.
The news came as the deeply troubled carrier suspended trading in its shares on Friday amid expectations of a corporate restructuring following the twin disasters of flights MH370 and MH17.
In a statement filed with the Kuala Lumpur stock exchange, the flag carrier said it suspended trading at the request of majority shareholder Khazanah Nasional “pending a proposal from Khazanah in relation to a material corporate exercise involving the company”.
Khazanah Nasional is the Malaysian government's strategic investment arm, according to its official website.
Read more on Flight MH370's disappearance
Speculation is mounting that Khazanah, which owns 70 per cent of the carrier, will take the airline private before implementing a major restructuring to save the company from a feared bankruptcy.
In June, Khazanah had said it would announce a plan within six to 12 months.