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Malaysia Airlines shares to be grounded

Fri, 08 Aug 2014

Malaysia Airlines is to be delisted ahead of an overhaul.

Khazanah Nasional – Malaysia's state investment company and the troubled aviation company’s majority stakeholder – says it will buy out minority shareholders, who will receive a premium on the carrier’s recent share price.

As well as having struggled financially over the long haul, Malaysia Airlines has suffered the unprecedented loss of two of its airliners this year.

Flight 370 disappeared with 239 passengers as it flew from Kuala Lumpur to Beijing on 8 March, and has yet to be located.

Flight 17, flying from Amsterdam to Kuala Lumpur, was shot down over Ukraine on 17 July, with all 298 people on board killed.

The carrier would receive “a complete overhaul,” Khazanah Nasional said.

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Malaysia Airlines shares to be grounded