Malaysia’s sovereign wealth fund has hired Morgan Stanley to explore options including a stake sale for Malaysia Airlines, as it attempts to turn around the country’s beleaguered flag carrier. Deputy minister Mohamed Farid Md Rafik confirmed in an address to Malaysia’s parliament that Khazanah, the country’s sovereign wealth fund, had hired the investment bank as an independent advisor as part of a recovery plan for the airline. He added that one option under consideration was for the state to reduce its stake to a minority shareholding. “Khazanah is working with Malaysia Airlines Group Berhad to reassess its strategy and evaluate all strategic options, including proposals from external parties, to steer the company towards financial sustainability,” said a spokesperson for Khazanah. <br/>