Malaysia Airlines shares suspended pending announcement

KUALA LUMPUR Thu Aug 28, 2014 9:03pm EDT

KUALA LUMPUR Aug 29 (Reuters) - Shares in Malaysia Airlines (MAS) will be suspended on Friday ahead of a material announcement.

MAS said its shares will be suspended from 9 a.m. local time (0100 GMT), confirming an earlier report by Reuters.

The share suspension comes ahead of the announcement of the airline's planned restructuring, which could include job cuts and a change in top management.

Khazanah Nasional, the airline's majority shareholder, will be holding a press conference on MAS at 3 p.m. local time(0700 GMT) on Friday.

MAS reported a net loss of 307.04 million ringgit ($97.27 million) in its second quarter and said its earnings in the second half will be hit by lower passenger bookings after the two jet disasters this year. (1 US dollar = 3.1565 Malaysian ringgit) (Reporting by Al-Zaquan Amer Hamzah; Editing by Ryan Woo)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.