Malaysia Airlines plans IPO in 1Q 2019

Malaysia Airlines plans to launch an IPO in 2019 as it makes progress toward profitability. Over the past few years Malaysia Airlines has undergone a serious of setbacks, including two aircraft accidents in rapid succession. In March 2014, MH370, a Boeing 777-200 with 239 passengers and crew, disappeared over the Indian Ocean while on a flight from Kuala Lumpur to Beijing. Four months later, in July, MH17, also a 777-200, was shot down over Ukraine by a surface-to-air missile while on a scheduled flight from Amsterdam to Kuala Lumpur. All 298 onboard were killed. The assets of the old Malaysia Airline System (MAS) were bought by Malaysian sovereign wealth fund Khazanah in 2014. Trading in MAS shares was suspended Dec. 15, 2014, and the company was delisted, to be replaced by a newly created Malaysia Airline Berhad. “Malaysia Airlines is on track to breakeven by 2017 and will likely be profitable in 2018. We are aiming to get back on the public markets with a listing in in the first quarter of 2019,” Malaysia Airlines CEO Peter Bellew said.<br/>