MAS sells overseas assets

MAS sells overseas assets

KUALA LUMPUR (AFP): Malaysian Airline System Bhd. is believed
to be selling residential and commercial properties abroad as
part of a cost rationalization program, industry sources say.

The sources said the airline was auctioning properties --
including holiday homes in London and Australia -- and had also
recalled station managers in less lucrative markets back to
Malaysia.

"The company is planning to auction off some of its
residential properties, including those in London and Australia
and even holiday homes, in the next couple of months," one of the
sources told AFX-Asia.

Malaysia Airlines has already recalled some its station
managers in Australia and will retain personnel only in key
markets to take charge of wider geographical areas, the sources
said.