Proposed govt takeover of Malaysia Airlines first stage of 'complete overhaul'

Malaysia’s state investment company plans to make Malaysia Airlines fully government owned, removing it from the country’s stock exchange before carrying out a far-reaching overhaul of the carrier that is reeling from double disasters.

Khazanah Nasional, which owns 69% of Malaysia Airlines, has proposed to the carrier’s board of directors that it buy out minority shareholders at 27 sen a share, which is 29% higher than the airline’s average share price over the previous three months. The takeover would cost 1.38 billion ringgit (€320m).