Malaysia Airlines delists following air tragedies
Malaysia Airlines (MAS), which is reeling from the fallout of twin
tragedies, has delisted from stock exchange since August 8.
Malaysia Airlines (MAS), which is reeling from the fallout of twin
tragedies, has delisted from stock exchange since August 8.
The news came amid expectations of a corporate restructuring following the twin disasters of flights MH370 and MH17 in Southern Indian Ocean and southern Ukraine.
In a statement filed with the Kuala Lumpur stock exchange, the carrier said it has suspended trading at the request of majority shareholder Khazanah Nasional which owns 70 percent of the carrier.
Speculation is mounting that Khazanah will conduct a major restructuring to save the company from a feared bankruptcy.
In June, Khazanah said it will announce a plan for the next 6-12 months.
MAS has reeled from years of financial losses as it struggles to keep up with intensifying competition in the industry, and its survival is now seen as in peril following this year's air catastrophes.
It lost 1.3 billion USD during 2011-2013, and a further 443 million ringgit in this year’s first quarter, blaming MH370's dramatic impact on bookings.
The company is expected to unveil its second-quarter earnings in mid-August.-VNA
The news came amid expectations of a corporate restructuring following the twin disasters of flights MH370 and MH17 in Southern Indian Ocean and southern Ukraine.
In a statement filed with the Kuala Lumpur stock exchange, the carrier said it has suspended trading at the request of majority shareholder Khazanah Nasional which owns 70 percent of the carrier.
Speculation is mounting that Khazanah will conduct a major restructuring to save the company from a feared bankruptcy.
In June, Khazanah said it will announce a plan for the next 6-12 months.
MAS has reeled from years of financial losses as it struggles to keep up with intensifying competition in the industry, and its survival is now seen as in peril following this year's air catastrophes.
It lost 1.3 billion USD during 2011-2013, and a further 443 million ringgit in this year’s first quarter, blaming MH370's dramatic impact on bookings.
The company is expected to unveil its second-quarter earnings in mid-August.-VNA
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