Tune Air to take 20.5% of MAS shares

SEPANG: Tune Air Sdn Bhd and Khazanah Nasional Bhd, the major shareholders Air Asia and Malaysia Airlines (MAS) respectively, have agreed to buy existing shares of both companies from each other.

As a result, Tune will hold 20.5% of shares in MAS and Khazanah wil hold 10% of shares in AirAsia.

MAS, AirAsia and AirAsia X has also entered into a comprehensive collaboration framework that includes a collaborative agreement to explore opportunities to cooperate on a broad range of areas.

The collaboration agreement shall be for a five-year period with an option for a further five-year renewal.