Malaysia Airlines (MAS) has reportedly asked the Government to raise its foreign ownership limit to 45% while the Transport Ministry has confirmed reports of a possible sale of equity in the national carrier to Qantas Airways.
The Business Times news-paper says MAS has asked the Government to raise a ceiling on foreign ownership to 45% from 30%.It comes in tandem with news from Malaysia's state-run Bernama news agency that transport minister Ling Liong Sik is confirming talks between MAS directors and Qantas on the sale of shares in the national carrier. Another report from Malaysia's New Straits Times, meanwhile, indicates that Swissair has also entered into talks on a potential buy into MAS.
Earlier this year KLM was linked to a similar bid to take a stake in MAS in a bid to bring the carrier into the 'Wings' alliance.
At present foreign concerns own 16.57% of MAS, the largest single shareholder of which is Brunei Investment Agency with 9.l%.Local aviation holding company Naluri owns the largest privately-held stake of 29.09%, however, and government confirmation of sale negotiations with Qantas comes after it last week denied outright that talks were being held.
But according to the Business Times a source in the Malaysian Government, which retains a sizeable shareholding in MAS and a final say over some decision-making, says it is ready to leave "private business dealings to the parties concerned".
Source: Flight Daily News
