You are here
Malaysia Airlines to sell stake in Asia-Pacific travel distributor Abacus
[KUALA LUMPUR] Malaysia Airlines said on Monday it is divesting its indirect 8.84 per cent share in Asia-Pacific travel distributor Abacus International Pte Ltd as part of its plan to streamline its business and sell non-core assets.
The carrier is being restructured and will emerge as a new company by July 1, hoping to put behind it the hit to both brand and profits from last year's disappearance of flight MH370 and the shooting down of flight MH17 over war-torn Ukraine.
Malaysia Airlines said it was among 11 airlines selling their combined 65 per cent stake in Abacus to US-based travel and tourism technology provider Sabre Corp, which has a 35 per cent stake in the company.