'MAS-AirAsia deal reversal a win-win solution'

International Trade and Industry Minister Datuk Seri Mustapa Mohamed, in welcoming the share swap reversal between Malaysia Airlines (MAS) and AirAsia,described it as a win-win solution.

He said the move to unwind the deal involving Khazanah Nasional Bhd and Tune Air Sdn Bhd came as a big relief to unions representing about 20,000 workers in MAS.

"I think it is a big relief for the unions. The government has listened to the their grouses and complaints and this shows it is concerned.

"The decision on the share swap reversal is a win-win solution," he told reporters after launching the All-Electric Nissan Leaf Pilot Tentative Programme, here today.

Yesterday, Khazanah, the biggest shareholder of Malaysia Airlines, officially called off the share swap deal.

The investment holding company transferred its 10 per cent or 277,650,600 ordinary shares in AirAsia back to Tune Air, which in turn, gave its 20.5 per cent or 685,142,000 ordinary shares in Malaysia Airlines back to Khazanah.

Following the reversal, AirAsia chief executive officer Tan Sri Tony Fernandes and his partner, Datuk Kamarudin Meranun, resigned from the MAS board.

Khazanah nominee, Datuk Mohamed Azman Yahya, resigned from the AirAsia Board. -- Bernama