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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 twintragedies, has delisted from stock exchange since August 8.

The news came amid expectations of a corporate restructuring followingthe twin disasters of flights MH370 and MH17 in Southern Indian Oceanand southern Ukraine.

In a statement filed with the KualaLumpur stock exchange, the carrier said it has suspended trading at therequest of majority shareholder Khazanah Nasional which owns 70 percentof 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 keepup with intensifying competition in the industry, and its survival isnow seen as in peril following this year's air catastrophes.

Itlost 1.3 billion USD during 2011-2013, and a further 443 millionringgit in this year’s first quarter, blaming MH370's dramatic impact onbookings.

The company is expected to unveil its second-quarter earnings in mid-August.-VNA

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