(MENAFN) Sources said Malaysian state investor Khazanah Nasional Bhd plans to privatize Malaysian Airline System Bhd (MAS) as the first step to restructure the loss-making airline, The Peninsula Qatar reported
This move would pave the way to revive the already-suffering carrier, by selling off its profitable engineering airport services and budget airline units, trimming its bloated payroll and installing a new management team
Majority shareholder, Khazanah, would need to pay only USD328 million for the 30.6 percent of shares which the MAS does not already owns
"This (privatization) will remove pressure from the public, from politicians to the unions, hence focusing on its turnaround," said a Kuala Lumpur-based equity analyst
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