By Jahabar Sadiq
KUALA LUMPUR, May 2 — The boards of Malaysia Airlines and AirAsia have agreed to set up a company to buy aircraft, parts and oil for economies of scale ahead of the Asean open skies policy, despite unwinding a nine-month-old share swap that saw opposition from politicians and the flag carrier’s unions.
The Malaysian Insider understands that both carriers, together with AirAsia X, will sign an agreement this evening to co-operate on procurement and other areas.
“The boards have agreed to unwind the share swap. No money is exchanged as it was on a willing-buyer, willing-seller basis,” a source told The Malaysian Insider.
It is learnt that AirAsia chiefs Tan Sri Tony Fernandes and Datuk Seri Kamaruddin Meranun will leave the MAS board, a bone of contention among staff of the national carrier that lost RM2.52 billion last year.
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