August 29, 2014 / 7:50 AM / 3 years ago

State fund says MAS' contracts could be amended by parliament

KUALA LUMPUR, Aug 29 (Reuters) - Malaysian state fund Khazanah plans to push a parliamentary bill to amend contracts between Malaysia Airlines (MAS) and its suppliers, aiming to avoid having to go through law courts, Khazanah Managing director Azman Mokhtar said on Friday.

Amending or cancelling MAS’ long-term contracts is part of a 6 billion ringgit ($1.90 billion) restructuring plan announced by Khazanah. The plan includes cutting 30 percent of its workforce and de-listing the firm by the end of this year.

Khazanah said it aims to return the airline to profitability within three years of its de-listing, and plans to re-list the carrier in three to five years from now.

1 US dollar = 3.1530 Malaysian ringgit Reporting by Al-Zaquan Amer Hamzah; Editing by Ryan Woo

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