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Malaysian Airlines shares rebound 9.7 pct after two-day slide
May 20, 2014 / 1:35 AM / 3 years ago

Malaysian Airlines shares rebound 9.7 pct after two-day slide

KUALA LUMPUR, May 20 (Reuters) - Malaysian Airlines shares rose as much as 9.7 percent on Tuesday, following two straight days of losses, after a government spokesperson said Prime Minister Najib Razak had not mentioned bankruptcy as a future option for the loss-making carrier.

Malaysian Airline System Bhd (MAS) nearly 70 percent-owned by state investor Khazanah Nasional Bhd, rose to 17 sen in early trade, a day after it plunged as much as 21 percent to a record low of 15 sen.

Investors were spooked after the carrier last week reported its worst quarterly loss in over two years and the Wall Street Journal on Friday quoted Najib as saying the government could not rule out bankruptcy for the airline.

A government spokesperson said late on Monday that had not mentioned bankruptcy as an option for the loss-making carrier during an interview with the Wall Street Journal, but said the airline’s status as a public company needed to be taken into consideration. (Reporting By Al-Zaquan Amer Hamzah; Editing by Kenneth Maxwell)

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