MALAYSIA Airlines is expected To Be Privat


MALAYSIA Airlines is expected To Be Privat


MALAYSIA Airlines is expected to remain a viable player in the Australian market after its major government shareholder yesterday moved to delist it, with a $460m bid to throw off the yoke of two Crippling Crashes.

The predicted move to underpin the troubled Airline will see the Qantas oneworld partner continue to service Australia, possibly under another name.

Malaysia Airlines, which has lost 4.57 billion ringgit ($1.53 billion) since the start of 2011 and was loaded with debt, has been a long-term player in Australia and held 4.3 per cent of the international market in the 12 months to May.

Prior to the disappearance of MH370 and the missile attack on MH17, it had been well regarded by the travel industry and passengers, but the loss of the two Boeing 777s saw many travellers cancel their bookings.

Flight Centre spokesman Hadyn Long said yesterday that most Malaysia customers had stuck with the airline, but forward orders slowed in the days after MH17.
But there has since been a gradual recovery, he said.
Demand is not back to where it was 12 months ago, but we are certainly seeing improvement.

Shares in the troubled Airline’s Parent company, Malaysian Airline System, were suspended yesterday as 69 per cent shareholder Khazanah Nasional ordered a major restructuring and said it would pay 0.27 sen for each of the outstanding shares, or a total of 1.38 billion ring git.

The Transaction will see MAS delisted and become a wholly owned subsidiary of Khazanah as part of a comprehensive review and restructuring.

The Malaysian government investment fund cited three years of net losses and 22.6 per cent fall in the value of MAS shares in the wake of the aircraft losses.
There had been suggestions from some quarters that the loss of MH17 was the final straw for the Kuala Lumpur based carrier, but experts had predicted the Malaysian government would not let it fail.



Malaysia Airlines has lost 4.57 billion ringgit,
Malaysian Government Investment Fund, 
loss of MH17 was the final straw for the Kuala Lumpur based carrier,
Malaysia Airline will see the Qantas oneworld partner continue to service Australia,



Mohini Porwal [ B Sc]
Trainee News Editor
mohini.aerosoft@gmail.com
https://www.facebook.com/profile.php?id=100005944964687
www.AeroSoft.com


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