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Malaysia Airlines halts trading

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Malaysia Airlines has suspended trading ahead of an announcement.

A Bursa Malaysia Securities circular said the trading suspension was at the request of its major shareholder, Khazanah Nasional Bhd, which owns 69% of the firm, The Star reported.

Reuters also reported while MAS was not elaborating on the reasoning behind the halt, it plans to take the company private as the first step in a major restructure.

READ MORE: Malaysia Airlines union calls for CEO to resign

The airline, which was already in dire financial trouble, has been hit by two major tragedies which have hugely affected business.

In March, flight MH370 disappeared with 239 people on board after flying off course during a flight from Kuala Lumpur to Beijing. The investigation to find the aircraft is still ongoing.

Then in July, 298 people were killed when MH17 was shot down over Ukraine.

READ MORE: Malaysia Airlines staff “affected mentally” by double tragedy

Image: Shutterstock

 

 

 

 

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