MAS shares to be suspended ahead of planned restructuring (VIDEO)

KUALA LUMPUR, Aug 29 ― Shares in Malaysia Airlines (MAS) will be suspended today ahead of a material announcement.

MAS said its shares will be suspended from 9am local time, confirming an earlier report by Reuters.

The share suspension comes ahead of the announcement of the airline's planned restructuring, which could include job cuts and a change in top management.

Khazanah Nasional, the airline's majority shareholder, will be holding a press conference on MAS at 3pm local time today.

MAS reported a net loss of RM307.04 million in its second quarter and said its earnings in the second half will be hit by lower passenger bookings after the two jet disasters this year. ― Reuters

A Malaysia Airlines Boeing 737 aircraft (left) taxis on the tarmac of the Kuala Lumpur International Airport in Sepang. Yesterday, MAS registered its fourth straight quarter of losses that it also blamed on the depreciation of the ringgit, unrealised fore