The national carrier said its major shareholder, Khazanah Nasional Bhd, would make an announcement in relation to the details of a proposed restructuring to revive the ailing company.
READ: Khazanah unveils MAS restructuring plan
Analysts view the restructuring as one-of-its-kind ever seen in history of restructuring in the country.
Earlier, Astro Awani reported the pre-suspension price for MAS was 24 sen and the company’s share price had declined as much as 23 percent this year.
If the proposal takes shape, it will create a transaction worth almost RM1.38 billion. Khazanah will also acquire the shares that is doesn’t own in MAS at 27 sen per share.
Analysts expect Khazanah to adopt staff resizing, reduce two non-profitable routes to China and Europe and change in top management positions.
Earlier, MAS reported a net loss of RM307.04 million in its second quarter and said its earnings in the second half will be affected by lower passenger bookings after MH370 and MH17 tragedies.
