07 Aug '11, 4am

State-owned Malaysia Airlines (MAS) will swap shares with AirAsia - Asia's largest budget carrier

State-owned Malaysia Airlines (MAS) will swap shares with AirAsia - Asia's largest budget carrier - this week in a deal that will stop the ailing national carrier from plunging any further into the red. AirAsia CEO Tony Fernandes will get a 20 per cent stake in the national carrier. The deal will allow both carriers to rationalise their fleet, frequencies and destinations while ensuring MAS returns to becoming a premier airline. AirAsia's market capitalisation of RM11 billion (S$4.45 billion) is twice that of MAS' RM5.3 billion. MALAYSIAN INSIDER

Full article: http://www.todayonline.com/World/EDC110807-0000137/MAS-to...

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