AirAsia and Malaysia Airlines in a new share swap

AirAsia (AirAsia.com) (Kuala Lumpur) and Malaysia Airlines (Kuala Lumpur), once fierce competitors, can moving closer and preparing to become shareholders in each company.

According to this published report by the China Post, Khazanah Nasional Bhd, which owns about 70 percent of Malaysia Airlines, would get a stake in AirAsia, while Tune Air SDN BHD, which owns 26 percent of AirAsia, would get a 20 percent share of Malaysia Airlines. Tune Air is partly controlled by AirAsia’s CEO Tony Fernandes and another partner.

The intent of this proposed deal is to save financially-challenged Malaysia Airlines.

Read the full report: CLICK HERE

Malaysia Slide Show: CLICK HERE

Copyright Photo: Michael B. Ing. Please click on the photo for additional details.