MAS moves closer to nationalisation

6 Nov 2014 by GrahamSmith

Malaysia Airlines is today one step closer to becoming a nationalised private company.

At an EGM (Extraordinary General Meeting) in Kuala Lumpur, MAS minority ordinary shareholders voted to approve Khazanah Nasional, the investment holding arm of the Malaysian government, becoming the sole shareholder.

The $421 million proposal was accepted, but requires further approval from the High Court of Malaya before it can be completed.

Khazanah Nasional is currently the majority stakeholder in MAS with a 69.4 per cent share. In August, it announced that it will now take full ownership of the airline (see news, August 8).

A statement from Malaysia Airlines said: "Please be assured that for the moment there are no changes to our current flights, schedules, reservations or operations.

"MAS continues to fly, honour existing reservations and plan for future travel with the same focus on delivering exceptional customer service that it is known for around the world."

The nationalisation of MAS will provide it with a much needed respite after the disappearance of flight MH370 over the Indian Ocean and the tragic shootdown of MH17 over Ukraine (see news, July 17).

Graham Smith

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