KUALA LUMPUR, May 18 —Malaysia Airlines (MAS) will divest its indirect 8.84 per cent share in Abacus International Pte Ltd as part of streamlining its businesses and divesting off non-core assets.
In a statement today, the airline said the sale is expected to be completed by later this year.
"MAS and 10 other major airlines in Asia will be selling their combined 65 per cent stake in Abacus, the leading global distribution system (GDS) for travel in Asia Pacific, to Sabre Corporation, which is currently owns 35 per cent of Abacus," it added.
Abacus serves at present more than 100,000 travel agents across the Asia Pacific region’s 59 markets and has both global and uniquely local relationships with airlines and hotels, including the leading portfolio of low-cost and Chinese airline content.
Subject to certain regulatory approvals, the transaction will result in Sabre emerging as the sole shareholder of the Abacus business. — Bernama
