Malaysia Airlines company will be put under government control

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The two incidents have had a devastating impact on its reputation A state investment company, Khazanah Nasional, which already owns more than two thirds of the company, will buy out the remaining shares costing £255 million. In their statement, Khazanah said: “The restructuring will be a complete overhaul. Nothing less will be required.” The airline’s share price has been in a long-term decline due to several years of losses.

As previously required, the Malaysian Airline must to serve its function as a critical national development entity, required to fly unprofitable domestic routes. Trading in Malaysia Airline System Bhd (MAS) was suspended on Monday.  Malaysia Airlines will be delisted from the stock market and placed under government control and even the name of the company will be changed. Not at last, top executives will be replaced. “We hope these twin tragedies will change the way the aviation industry operates, making global travel safer for all, Prime Minister Najib Razak said in a statement.

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